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To the 17 lakh Ola Electric shareholders: 90% of Ola stores have been shut in Maharashtra, and similar actions are underway in Haryana, Rajasthan, Punjab etc. - But why? Because, in its fancy to open 4k new stores in 25 days (in Dec 2024), it did not take any trade certificates - And without any trade certificate, you can’t be keeping vehicles without number plates. Ola was blatantly violating the law But, what’s interesting is how Ola is denying all of this. It’s bonkers. .. You see, Ola Electric has called news reports on this false, biased and an attempt to blow things out of proportion. Why? Because Ola has defended that it is “complying with demands from authorities” and has applied for necessary approvals now. But, that is the confirmation! - It confirms the stores have been shut, just that company is using a spin of words to not make it sound that way - Plus, how do you comply? Authorities came to your stores, sealed them, so you could not operate them any longer - You say that’s you complying? How? It’s the authorities doing a crackdown after you did not comply, stupid! .. But, think of it. This gets worse. When Ola announced plans to launch 4k new stores in 25 days, it informed the stock exchanges - Because that helps the stock price. When it did achieve opening ~3.5k new stores in that time, it again informed the stock exchanges - Because that also helps the stock price. - But, in April, when Maharashtra Govt shut down 121 of its 432 stores in the state, it did not inform the stock exchanges - And when similar crackdown started in Haryana, Punjab and other states, company again stayed silent - And now that Maharashtra Govt has shut overall 388 of its stores in the state? It has not informed the stock exchanges at all! Borrowing from the legendary Ashneer Grover - What’s up with this DOGLAPAN? .. See, this post is no investment/trading advisory. It’s a rant. A rant against what’s more and more coming out to be a house of cards built on shocking regulatory oversight. It is astonishing that a company of this scale could overlook a foundational requirement, leading to a situation where countless of its showrooms in a key states have been operating without the legal permit to even store a vehicle. This certificate is a non-negotiable prerequisite for any dealer to hold, display, or sell unregistered vehicles. Without it, a showroom is essentially just a display front with no legal authority to conduct its primary business. And I such a situation, the 17 lakh investors who back this vision (with whatever thesis, or lack of one) deserve clarity, not radio silence, on how a nationwide expansion went so fundamentally wrong.