STARTUP LEGAL16 Sept 2026
Ola Electric payments to Bhavish Aggarwal's Krutrim nearly quadruple in one year
Ola Electric's payments to Krutrim SI Designs, the AI firm owned by chairman Bhavish Aggarwal, nearly quadrupled to ₹100 crore in FY26. They cover ₹54 crore for services and a ₹46 crore advance. Governance experts ask if such related-party deals were truly at arm's length, given shared board members. If your company has similar deals, review your disclosures and audit committee approvals.
Key Statutory Highlights
- Ola Electric's payments to Krutrim SI Designs, an AI company owned by chairman Bhavish Aggarwal, nearly quadrupled to ₹100 crore in FY26.
- The payments included ₹54 crore for services bought from Krutrim, up from ₹26 crore a year earlier, plus a ₹46 crore advance for services ordered but not yet invoiced.
- Governance experts said the overlap of board members across the two companies raises questions about whether these related-party payments were assessed as arm's length.
Actionable Advice for Taxpayers / Founders:If your business has related-party transactions, consider checking that your audit committee approved them in advance and that the terms are properly documented as arm's length.
Statutory Disclaimer: TaxQue Shorts are AI-assisted editorial briefs for compliance awareness. This brief has not passed every source check; confirm the original notification before acting. This does not constitute formal legal or CA counsel.
TaxQue News Desk
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