The Erisha Group, once a prominent name in India’s electric scooter and e-mobility sector, has resurfaced in a new line of business after facing allegations of large-scale financial misconduct, prompting renewed scrutiny from investors and calls for regulatory oversight.
The group, which previously operated as Erisha E-Mobility, is now conducting business under the name Erisha Agri Tech Private Limited, positioning itself as a supplier of agricultural machinery and equipment. The transition has unsettled former dealers and investors, particularly in Kashmir, who say they are still awaiting answers over investments made during the company’s earlier operations.
According to complainants, Erisha E-Mobility had marketed itself several years ago as a fast-growing electric vehicle company, offering electric scooters and promising timely delivery and attractive returns. Investors across multiple states, including Jammu and Kashmir, reportedly committed significant funds. However, several dealers allege that despite collecting large sums, the company failed to deliver vehicles or refund investments.
Following these allegations, company offices were closed and several key individuals associated with the venture became unreachable, leaving many dealers in financial distress, according to those affected.
The company’s re-emergence under a new corporate identity has drawn particular attention because of its continued use of images of Sourav Ganguly, the former Indian cricket captain. Promotional materials associated with both the earlier and current ventures have depicted Mr. Ganguly as a brand ambassador, a practice critics say has contributed to public trust in the company. There has been no independent confirmation of the nature or validity of any endorsement arrangement.
Under its new banner, Erisha Agri Tech claims to be involved in the manufacture, supply, and export of a wide range of agricultural equipment, including tractors, combine harvesters, rotavators, super seeders, land levelers, straw reapers, and agricultural drones. The company describes itself as offering “one-stop farm solutions” for farmers.
Former investors argue that a change in name and sector does not address unresolved questions from the past. They are asking how a group facing unresolved financial complaints was able to register and operate a new company without apparent scrutiny of its previous record.
“If proper audits and investigations had been conducted earlier, this situation might not have arisen,” said one affected dealer in Kashmir, who requested anonymity, citing fear of retaliation. Others warn that the controversy risks eroding trust in the agricultural machinery sector, which they describe as particularly sensitive for rural livelihoods.
Corporate governance experts note that such cases underscore the responsibility of regulatory bodies, including the Ministry of Corporate Affairs, state authorities, and investigative agencies, to conduct thorough background checks and monitor companies with prior allegations of misconduct.
Affected investors are now calling for a comprehensive investigation into both the earlier e-mobility venture and the current agricultural business, seeking transparency, accountability, and restitution for what they describe as significant financial losses.
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