Bhavish Aggarwal Net Worth: Why Ola Electric Share Price Crashed 3%?

Diwali Muhurat Trading: Ola Electric Mobility Limited shares fell nearly 3% during the Diwali muhurat trading session. The massive decline in Ola share price today came after the company CEO Bhavish Aggarwal, along with other Ola senior management members, was reportedly booked in an employee's suicide case.

Ola Electric Mobility shares fell nearly 2.57% to close at Rs 53.39 per share on BSE on Tuesday, october 21. The company scrip had opened lower at Rs 53.31 per share. The stock had touched an intraday high mark of Rs 54.59 per share and an intraday low mark of Rs 52.71 apiece.

Why Ola electric Share Price Crashed Today?

Ola share price crashed during Tuesday's trading session. The decline in Ola share price has come a day after police action against the company's top officials over an employee's suicide case. K Aravind, a 38-year-old engineer at Ola Electric Company died by suicide by consuming poison. In his 28-page suicide note, the employee accused Ola founder Bhavish Aggarwarl and other senior staff of mental harassment and financial exploitation, reported The New Indian Express (TNIE).

The police registered the case on October 6, as per the report. "The death note, found in my brother's room, revealed that Subrata Kumar Dash and Bhavish Aggarwal had allegedly been harassing my brother, putting him under work pressure and withholding his salary and other dues, which caused him mental distress," TNIE quoted Ahswin Kannan, the deceased employee's brother.

Ola Reacts To Allegations

The company has expressed grief over the demise of its employee and made it clear that Aravind was not in direct interaction with the company's top management. The company has also mentioned that the FIR against Ola senior management has been challenged in the High Court.

"During his tenure, Mr. Aravind never raised any complaint or grievance regarding his employment. His role also did not involve any direct interaction with the company's top management, including the promoter," stated Ola Electric Mobility in its BSE filing.

"An FIR was recently registered in connection with this matter. The Company has challenged the registration of the FIR before the Hon'ble High Court of Karnataka and protective orders have been passed in favor of Ola Electric and its officials. It is clarified that no chargesheet has been filed against the Company or its officials. As part of our support to the bereaved family, the Company promptly facilitated the full and final settlement to Mr. Aravind's bank account," the company added.

Ola Electric Mobility is fully cooperating with the authorities in the investigation and "d remains committed to maintaining a safe, respectful and supportive workplace for all employees," stated Ola.

Bhavish Aggarwal Net Worth

While the suicide note has reportedly mentioned Bhavish Aggarwal's name, Ola Electric Mobility has made it clear that the senior management was not directly in touch with the deceased employee. The 40-year-old Ola CEO has a net-worth of around $ 1.9 billion, according to Forbes. He is among the top 2,000 billionaires in the world, as per Forbes in 2025.