The company has roped in one of the 'Big Four' audit firms to help in the investigation, two people close to the development said.
They declined to be identified as the matters are private.
When contacted, an Ola spokesperson confirmed the development.
"There is an internal investigation which is currently on," the spokesperson said but declined to provide further details.
One of the persons said the investigation will look into whether Saikia received kickbacks from recruitment vendors and others during his tenure.
Prior to Ola, Saikia was a senior director at analytics software firm, FICO and has also worked at American Express.
Disclaimer: No Business Standard Journalist was involved in creation of this content
