BluSmart Suspends Cab Bookings in Mumbai, Delhi-NCR and Bengaluru Until May 7 After SEBI Action Against Gensol
Electric ride-hailing company BluSmart has temporarily stopped offering cab services in all three of its operating cities -- Mumbai, Delhi-NCR, and Bengaluru.
New Delhi, April 16: Electric ride-hailing company BluSmart has temporarily stopped offering cab services in all three of its operating cities -- Mumbai, Delhi-NCR, and Bengaluru.
Customers using the BluSmart app are unable to book rides, with no time slots available until May 7. This disruption comes just days after India슬롯사이트™s market regulator Securities and Exchange Board of India (SEBI) passed an interim order against Gensol Engineering Limited and its promoters Anmol Singh Jaggi and Puneet Singh Jaggi.슬롯 머신 사이트 추천EaseMyTrip Issues Statement After ED Raids on Properties Linked to Nishant Pitti, Denies Any Association With Mahadev Online Betting App.
The two brothers, who co-founded BluSmart, have been accused of diverting loans meant for electric vehicle (EV) procurement to buy a luxury flat in Gurugram's DLF Camellias.
The SEBI슬롯사이트™s order banned the Jaggi brothers from accessing the securities market and halted Gensol슬롯사이트™s proposed stock split. The regulator also directed the appointment of a forensic auditor to examine the company's financial records in detail.
According to the SEBI, Gensol had borrowed Rs 978 crore from public lenders like the Indian Renewable Energy Development Agency (IREDA) and the Power Finance Corporation (PFC) between 2021 and 2024. Out of this, Rs 664 crore was meant for buying 6,400 EVs to be leased to BluSmart. However, only 4,704 vehicles were actually procured, leaving a gap of over Rs 260 crore.
The SEBI suspects a large part of this money was routed through related entities and used for personal gain. One key transaction involved Rs 42.94 crore being paid to DLF for an apartment in The Camellias project in Gurugram.
The financial troubles have also impacted BluSmart internally. Reports suggest that the company has delayed salary payments for March. In an email to employees, Anmol Singh Jaggi said there were cash flow issues but promised to clear all dues by the end of April.슬롯 머신 사이트 추천Nishant Pitti Resigns From EaseMyTrip: Easy Trip Planners슬롯사이트� CEO Steps Down Citing 슬롯사이트˜Personal Reasons슬롯사이트�, His Brother Rikant Pitti Appointed As Replacement.
슬롯사이트œDue to current cash flow constraints, there will be a short delay in processing salaries. However, we want to assure you that all dues will be cleared within the month of April itself,슬롯사이트� Jaggi reportedly said in the email.
(The above story first appeared on LatestLY on Apr 17, 2025 11:50 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).