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Chirag
•

&OTHERS • 23d

EV Dream or Nightmare? BluSmart's alleged ₹900 Cr scandal is sickening. A punch to the gut for founders & investors. 💔 ₹900Cr EV loan, but SEBI alleges ~₹300Cr diverted: luxury flat, family transfers (₹8Cr+), another startup investment, fake docs. SEBI: Total governance failure, run like "proprietary firm." We've seen this before; it ends badly. As builders/investors, this hurts. It shakes foundations. Biggest fear: collateral damage. Ethical founders face tougher scrutiny & slower funding as trust erodes. Good companies suffer for others' alleged sins. Remember: Hype ≠ ethics. Funds ≠ success. Governance is NON-NEGOTIABLE. Are we truly accountable? Funding hype over substance? Ignoring red flags? What concrete steps must VCs/lenders/boards take NOW?

2 replies10 likes

Replies (2)

Anonymous 1

Hey I am on Medial • 22d

Specially because their product was so good. Founders turned greedy af.

0 replies

Anonymous 1

Hey I am on Medial • 22d

This is so bad for the ecosystem.

0 replies

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