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Chirag

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&OTHERS • 3d

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?

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