BluSmart, Medikabazaar & The Ghost Of Corporate Governance Returns

Aman Gupta Speaks Out on BluSmart Fraud, Stresses Ethics Over Hype

BluSmart's financial scandal has sent shockwaves through India's startup world and has led many business leaders to contemplate the true role of ethics and governance. Among the co-founders who has quite vocally addressed the situation is boAt's Aman Gupta.On the heels of his appearance as a judge on Shark Tank India, the boAt co-founder took to social media to draw from personal values and professional experience in addressing what has happened…

BluSmart, Medikabazaar & The Ghost Of Corporate Governance Returns

If there’s one consistent theme in business, it’s that everything moves in cycles. We have a funding and growth boom followed by a slump in the markets, and then a new inflection point starts the cycle anew. But between these ups and downs, we can spot another pattern — corporate governance lapses, allegations of fraud against founders. The past two weeks have thrown up two such incidents which have been boiling away for some time. The first one…

BluSmart crisis: Green mobility’s red flag is giving HNIs bond blues

Over the past year, multiple new-age fintech platforms facilitated the sale of nearly Rs 100 crore worth of BluSmart Mobility bonds to retail investors and high net-worth individuals (HNIs), who are now facing repayment uncertainty as the electric cab-hailing platform’s operations have come to a standstill. The bondholders’ concerns stem from cash-strapped BluSmart’s failure to raise $50 million in a fresh round and an ongoing probe by markets r…