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Sanskar

Keen Learner and Exp... โ€ข 2m

India's Latest Start Up Scandal Gensol borrowed almost โ‚น978 crore to rent electric vehicles (EVs) to BluSmart. And the interesting fact here is that Gensol has no direct equity or ownership interest in BluSmart as a distinct legal entity. Gensol does not even formally report any equity interest in BluSmart on its balance sheets. the only thing is they have a common founder Anmol Singh Jaggi. Huge amounts were also allegedly used for personal use such as a โ‚น50 crore luxury apartment and high-end golf equipment. The scandal involves co-founders Puneet Singh Jaggi and Anmol Singh Jaggi, who lead both Gensol and BluSmart. The Effect? BluSmart suspended operations, both for drivers and customers. Shares of Gensol plummeted by 85% in 2025. Credit ratings for Gensol were lowered. SEBI has banned them from becoming leaders and investing in the stock market. Current Status BluSmart is said to be in search of a tie-up with Uber to reorient its business model and remain afloat.

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BluSmart's 250+ Cr SCAM. BluSmart, founded by Anmol & Puneet Jaggi exposed by SEBI. SEBI exposed SCAM in the listed company GENSOL, which was founded by the founders of BluSmart. It's like GENSOL = BluSmart. GENSOL owned the half of BluSmart's flee

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Gensol Engineering's Managing Director Anmol Singh Jaggi and Director Puneet Singh Jaggi have resigned from their positions today, citing directions from the Securities and Exchange Board of India (SEBI) as the reason for their departure, according t

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Poosarla Sai Karthik

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So hereโ€™s what went wrong with Gensol & BluSmart. The founders, Anmol and Puneet Singh Jaggi, raised a fat โ‚น978 crore in loans from IREDA and PFC. The money was supposed to be used to build an EV fleet for BluSmart. But guess what? Only 4,704 EVs wer

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Sanskar

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The BluSmart Saga In yesterday's post I explained about the latest Start up scandal of india and here I present you with further details about the BluSmart scandal And remember that Gensole is supporting BluSmart despite having no economic interest

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Armaan Nath

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BluSmart - Revolutionizing Sustainable Mobility in Indiaโšก BluSmart is an Indian startup that aims to revolutionize the urban mobility sector by providing eco-friendly transportation solutions. Founded in 2019 by Anmol Jaggi, Punit K Goyal, and Punee

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