Ola Electric Shares Rebound 5% After Bombay High Court at Goa Stays CEO Arrest Warrant

Shares of Ola Electric rose nearly 5% in intraday trade on Wednesday after the Bombay High Court at Goa stayed the execution of an arrest warrant issued against the company’s CEO, Bhavish Aggarwal.

The stock, which had fallen over 11% in the previous four sessions, rebounded as investors reacted to the removal of an immediate legal overhang.

At its intraday high, Ola Electric shares were trading around ₹29–30, recovering part of the value lost earlier this week amid heightened volatility and company-specific concerns.

What The High Court Said

In its order, the Bombay High Court at Goa stayed the warrant issued by the South Goa District Consumer Disputes Redressal Commission and observed that the consumer panel had “exceeded its jurisdiction under the Consumer Protection Act” while issuing the arrest warrant.

The bailable warrant had directed law-enforcement authorities to arrest and produce the CEO before the commission in connection with a consumer complaint related to a missing electric scooter and non-appearance at earlier hearings. Bail in the matter had been set at approximately ₹1.47 lakh.

The High Court’s stay effectively halts enforcement action until further hearings, offering interim relief to the company and its top executive.

Why The Stock Reacted? 

The court’s observation was significant, as it directly questioned the legal basis on which the arrest warrant was issued. The stay eased fears of escalating legal action against senior management, a factor that had weighed heavily on sentiment.

Traders noted that the rebound was also aided by short covering, given the sharp sell-off in recent sessions. However, analysts cautioned that the move should be seen as a technical bounce, rather than a trend reversal.

Despite Wednesday’s gains, Ola Electric’s stock remains well below its recent highs, reflecting ongoing concerns around competitive pressures in the electric two-wheeler market, regulatory scrutiny, and execution challenges.

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