US EditionNetizens are ‘heartbroken’ as BluSmart hits pause on its services; ‘rare, perfectly functional’ cab
- BluSmart, an Indian electric cab service operating in Delhi, Mumbai, and Bengaluru, halted bookings.
- The service disruption followed a SEBI order against Gensol Engineering, linked to fund diversions.
- Anmol and Puneet Singh Jaggi, co-founders of both BluSmart and Gensol, resigned from Gensol directorial roles.
- SEBI alleges funds intended for EVs were misused; for example, Rs 42.94 crore went to DLF for an apartment.
- Gensol's credit rating was downgraded, the Jaggi brothers face stock market bans, and a forensic audit is ordered.
18 Articles
18 Articles
What happens to money in BluSmart wallet?
BluSmart has discontinued its ride bookings, leaving users wondering about the money in their Blu wallets. The company’s support team clarified that wallet balances have lifetime validity and can still be used to book rides for others. For those unable to find slots or no longer wishing to use the service, refunds to the original payment source can be requested and will be processed within 5–7 working days.
BluSmart Cab News: Services stay suspended amid Sebi crackdown on co-founder
BluSmart Cab News: Services of electric cab-hailing platform BluSmart remained non-operational in Delhi-NCR, Bengaluru, and Mumbai amid market regulator Sebi's crackdown on its co-founder over alleged misuse of funds at an affiliated company. Anmol Singh Jaggi, who co-founded BluSmart, is also the promoter of Gensol Engineering. BluSmart provides electric car services in the three metros and has a fleet of 8,000 taxis. The company stopped taki…
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