Ola Electric’s Secretary and Compliance Officer Pramendra Tomar resigns

Ola Electric on Wednesday said that Pramendra Tomar, the company’s secretary and compliance officer has resigned from his position citing personal reasons and commitments.

According to a BSE filing, the resignation was effective from Tuesday, October 1.

Ola Electric added that it is in the process of appointing a new candidate for the position of company secretary.

According to Tomar’s LinkedIn profile, he joined the company in 2022 and holds 23 years of experience as a corporate lawyer and a company secretarial position.

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The resignation comes amid the EV maker’s shares struggle at the stock exchanges with its price dipping below the Rs 100 mark on Monday.

However, it regained some ground and closed at Rs 102.65 on the BSE on Tuesday.

The company also reported a second straight month of sales drop in September while major players such as IPO-bound Ather Energy, TVS Motor and Bajaj Auto saw sales numbers rise during the period.

According to reports, the company is struggling with many complaints concerning its vehicles.

Ola Electric has also been reported to have created a new service team consisting of employees from various divisions to address these complaints.

The company, in September, introduced a ‘Network Partner Program’ as part of its strategy to double down on EV adoption in Tier II and III cities as well as urban areas with lower EV penetration.

It added that it intends to onboard 10,000 partners by the end of 2025 and expand its sales and service networks across India.

(Disclaimer: Shradha Sharma, Founder and CEO of YourStory, is an independent director in Ola Electric.)