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SEBI INVESTIGATION BLUSMART
BluSmart blames founders for fraud, says staff unpaid for 4 months: 'Don't expect wallet refund, no point in messaging on social media'Electric mobility startup BluSmart has ceased operations since February 2025, leaving employees unpaid for four months. The company cited f...- Gensol defaults on BluSmart-linked bond repayment for MayGensol Engineering, linked to BluSmart's founders, has defaulted on Rs 4 crore in payments to its pass-through certificate (PTC) holders, i...
- NFRA probes Gensol's audit books after Sebi flags fraud, ICAI review underwayIndia’s audit regulator, NFRA, has launched a preliminary inquiry into Gensol Engineering’s books after SEBI flagged fraud allegations. The...
- Death of the sustainability poster child: What does it teach us?BluSmart, an electric vehicle cab service, shut down due to financial mismanagement. The company's failure raises concerns about oversight ...
- Gensol Engineering shares hit 5% upper circuit for 4th day amid ongoing turmoilGensol Engineering's shares have surprisingly rallied despite facing significant regulatory and financial turmoil. The surge occurs amidst ...
- MCA orders probe into Gensol, BluSmart for corporate governance violationsAt the centre of the controversy is the alleged misutilisation of term loans availed by Gensol Engineering from state-run Indian Renewable ...
- IREDA says Gensol promoters diluted equity without lender approval, files EoW complaintIREDA has accused Gensol Engineering's promoters of breaching their contract by diluting shareholding without lender approval and filed a c...
- ICAI to review financial statements of crisis-hit Gensol Engg, BluSmart MobilityICAI will scrutinize the financial statements of Gensol Engineering and BluSmart Mobility for fiscal year 2023-24, prompted by concerns ove...
- BluSmart appoints Grant Thornton for a forensic audit, sources sayBluSmart, an Indian electric cab service, has appointed Grant Thornton for a forensic audit following a regulatory investigation. The probe...
- PFC, IREDA initiate probe into Gensol Engineering's Rs 663 crore loanPower Finance Corporation and IREDA have launched internal investigations into a ₹663 crore loan to Gensol Engineering for EV purchases lea...
- ED lens on Jaggi brothers; Flipkart begins India shiftHappy Tuesday! After a Sebi probe, Gensol Engineering is now on the Enforcement Directorate’s radar. This and more in today’s ETtech Mornin...
- BluSmart crisis: Green mobility’s red flag is giving HNIs bond bluesThe bondholders’ concerns stem from cash-strapped BluSmart’s failure to raise $50 million in a fresh round and an ongoing probe by markets ...
- BluSmart bond holders may invoke immediate repayment provisionsBluSmart Mobility, which raised approximately Rs 100 crore through non-convertible debentures (NCDs) from high-net-worth individuals and re...
- PFC, IREDA mull sale of Gensol EVs to secure loansPower Finance Corp. and IREDA are considering auctioning Gensol's electric vehicles, acquired through loans, due to concerns over potential...
- BluSmart allegations will erode investor trust, warns former BSE chairman S RaviFormer BSE chairman S Ravi warned that mishaps like Gensol could shake the confidence of investors in the new ventures and tarnish the cred...
- Sanjeev Bikhchandani on BluSmart: ‘Drivers are worst hit’BluSmart Cabs, an electric mobility startup, shut down abruptly, raising concerns over corporate governance and the impact on gig economy w...
- GigWA seeks compensation for gig workers on BluSmart platformIn its letter written to the electric ride-hailing company, it has sought immediate compensation equivalent to three months’ income to all ...
- Aman Gupta on BluSmart crisis: A 'much-needed reality check' for the startup ecosystemFollowing BluSmart's crisis, Aman Gupta addressed the startup ecosystem, highlighting the importance of ethics and compliance. He acknowled...
- How to get money back from BlueSmart wallet as Gensol fraud puts brakes on cab opsBluSmart, the electric ride-hailing service, has unexpectedly ceased cab bookings in major Indian cities, leaving commuters stranded. This ...
- BluSmart cab services stay suspended in Delhi-NCR, Bengaluru, Mumbai as cofounder under Sebi lensBluSmart operations remained suspended on Thursday across Delhi-NCR, Bengaluru, and Mumbai amid a Sebi probe into cofounder-linked Gensol o...
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