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BLUSMART FRAUD
Shutting shop: A roundup of Indian startups which couldn't survive 2025India’s startup ecosystem was relatively stable in 2025, with shutdowns falling sharply compared with the previous year and overall numbers...- Delhi HC suspends Look-Out Circular against US citizen in Gensol probe; imposes Rs 25 crore security conditionThe Delhi High Court has suspended the Look-Out Circular against Inderpreet Singh Wadhwa, a US citizen under investigation for financial ir...
- 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...
- NCLAT asks Gensol entities BluSmart and Matrix to approach NCLT on asset freezeThe NCLAT declined to immediately stay the NCLT's order freezing Gensol's assets, directing BluSmart and Matrix Gas to appeal to the Ahmeda...
- Interim relief for Puneet Singh, Gensol for usage of defamatory words against themA Delhi court granted interim relief to Puneet Singh, co-founder of Gensol Engineering and BluSmart, against defamatory statements. The cou...
- 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...
- MCA probes BluSmart; More made-in-India AirPodsHappy Tuesday! The corporate affairs ministry will probe Gensol Engineering and BluSmart to check corporate governance lapses. This and mor...
- 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 ...
- BluSmart hires Grant Thornton to conduct audit; company’s losses more than doubled to Rs 470 crore in FY24BluSmart has appointed Grant Thornton to conduct the audit amid concerns over a significant cash discrepancy as the EV ride-hailing firm fa...
- ICAI to probe books of Gensol, BluSmartThe Institute of Chartered Accountants of India (ICAI) will investigate Gensol Engineering and BluSmart Mobility's FY24 financial statement...
- 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 faces audit; Ather's investor gainsBluSmart’s board has appointed Grant Thornton to audit the cash-strapped company’s financials. This and more in today’s ETtech Top 5.
- 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...
- BluSmart bust makes investors rewrite the fine printFollowing financial irregularities at Gensol Engineering and BluSmart, investors are tightening investment contract terms. Lawyers indicate...
- Power Finance Corporation files plaint with EOW over 'document fraud'Power Finance Corporation (PFC) has filed a complaint against Gensol Engineering for allegedly falsifying documents related to debt servici...
- 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...
- Money stuck in BluSmart wallet? Here are your options for claiming a refund or withdrawalBluSmart customers are facing issues with withdrawing money from their wallets amid concerns about the company's future. Despite the app's ...
- Gensol, BluSmart on corporate ministry radar for lapses after Sebi action for 'misutilisation' of fundsThe corporate affairs ministry is considering investigating Gensol Engineering and BluSmart for potential corporate governance violations, ...
- PFC, IREDA mull legal measures against Gensol to safeguard their loan exposurePower Finance Corp and IREDA are pursuing legal options to protect their ₹977 crore loan exposure to Gensol Engineering after promoters fac...
- Faster fraud prevention; BluSmart on Uber’s radarHappy Monday! Major Indian banks and payment companies are speeding up their response to payment fraud by integrating their systems with th...
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