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| 4mOla Electric promoter ANI Technologies under ED scanner over copyright infringement case
Ola Electric's parent company ANI Technologies is under investigation by the Enforcement Directorate in connection with a copyright infringement case involving music company Lahari. The issue came to light in Ola Electric's draft red herring prospectus (DRHP) filed with SEBI. Lahari had filed an FIR against ANI Technologies for playing songs on Ola Play devices without a valid license, which was later settled in August 2022. ED has issued summons to ANI Technologies seeking information about the settlement and copyright licenses. Ola Electric is also facing 169 consumer grievance cases seeking damages of INR 4.47 crore.
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