K.V. Pradeep Resigns As Chairman & MD Of Olectra Greentech

K.V. Pradeep steps down as Chairman and Managing Director (CMD) of Olectra Greentech Limited, citing personal reasons. He has also resigned as a Director of the company, and the effective date of his resignation will be communicated in due course.

This development comes amid questions surrounding the delayed delivery of 5,150 electric buses awarded to a consortium involving Olectra and Evey Trans Pvt Ltd. Maharashtra Transport Minister Pratap Sarnaik had recently directed officials to cancel the agreement due to the non-delivery of 1,000 buses by 22nd May 2025. Olectra later clarified that the project is being executed through a special purpose vehicle, where it holds a 1% stake and has not received any cancellation notice.