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The Central Consumer Protection Authority has issued a show cause notice to OLA electric mobility for customer right violation, the company informed the exchange in a filing on Tuesday.
The notice by the authority has been issued for alleged violations of consumer rights, misleading advertisements, and engaging in unfair trade practices. The notice reportedly addresses various consumer grievances and concerns, although the details of specific allegations remain undisclosed. The company in its filing, acknowledged the receipt of the notice and stated, "The Company will file a reply to the Show Cause Notice before the Central Consumer Protection Authority." The company also clarified that the show cause notice has no immediate impact on its financial, operational, or other business activities. Notably, the notice issued by the CCPA does not impose any penalties or financial fines at this stage. The company emphasized that it would cooperate with the regulatory body and provide the necessary explanations to address the issues raised. The notice from the CCPA is seen as a formal step taken by the authority to address concerns related to consumer protection. As the company prepares to respond to the CCPA, the industry and consumers will be closely monitoring the outcome of this regulatory scrutiny. Ola Electric, a key player in India's burgeoning electric vehicle market, remains under the spotlight as it seeks to maintain its market position amid increasing challenges. (ANI)
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