Ola Electric Issues Clarification After CEO Bhavish Aggarwal Booked in Employee Suicide Case

Bengaluru-based Ola Electric has issued a clarificatory statement after its CEO, Bhavish Aggarwal, along with another senior company executive, was booked by the Bengaluru Police in connection with the alleged abetment to suicide of a former employee, Mr. Aravind. The FIR was filed after the former employee died under mysterious circumstances.

Ola Electric Issues Clarification After CEO Bhavish Aggarwal and Executive Booked

In a formal exchange filing, Ola Electric denied any wrongdoing and stated that during his tenure, Mr. Aravind had never raised any complaint or grievance regarding his employment. The company also clarified that the deceased's role did not involve any direct interaction with the top management, including CEO Bhavish Aggarwal.

According to the CNBC-TV18 sources, despite Ola obtaining temporary protective orders from the Karnataka High Court, the investigation by the Bengaluru Police is ongoing. The court has not restricted police from proceeding, and investigators are continuing with due legal procedures.

A key detail surrounding the case is a Rs 17.5 lakh NEFT transfer made by Ola to Aravind's bank account. Sources said that this payment, which took place two days after Aravind's death and only after his family met with the Ola team, is currently outside the scope of the investigation.

What is Ola Electric Employee Suicide Case?

As per reports, according to police statement, Aravind, aged 38 and employed as a homologation engineer at Ola Electric since 2022, died by suicide on September 28, leaving behind a 28‑page handwritten note in which he named Aggarwal and senior official Subrat Kumar Dash, alleging prolonged mental harassment, work‑pressure and non‑payment of salary and incentives.

An FIR under Section 108 (abetment of suicide) of the Bharatiya Nyaya Sanhita was registered on October 6 after Aravind's brother filed a complaint.

Ola further confirmed that no chargesheet has been filed against the company or its officials so far. The company reiterated that it has issued a full and final settlement to Aravind's account and assured that it is fully cooperating with the authorities in the ongoing probe.

Ola Electric Share Price Today

The vehicle company's stocks were under pressure during the Muhurat Trading session on Tuesday, October 21, 2025, as the stock declined 4.16% and hit an intra-day low of Rs 52.65 on the NSE.

Shares of Ola Electric Mobility Ltd were trading at Rs 53.43, down Rs 1.51 (‑2.75%) during the special Diwali Muhurat trading session on October 21, 2025. The stock opened at Rs 54.94, touched an intraday high of Rs 54.48 and a low of Rs 52.65, before closing at Rs 53.33, with a volume-weighted average price (VWAP) of Rs 53.51.

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