Tech guy with a busi...ย โขย 5m
So hereโs what went wrong with Gensol & BluSmart. The founders, Anmol and Puneet Singh Jaggi, raised a fat โน978 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 were actually bought out of the promised 6,400. Thatโs a shortfall of 1,696 vehicles and a fund gap of about โน262 crore. Where did the money go? SEBI says it was diverted. Some of it into luxury purchases, some into unrelated ventures. And it gets worse. BluSmart also defaulted on โน30 crore worth of bond payments and is now reportedly shutting down operations in Delhi, Mumbai, and Bengaluru. Theyโre even considering switching to a fleet partner model with Uber. Meanwhile, Gensolโs stock has crashed nearly 90% from its peak. SEBI has stepped in and barred both founders from holding key roles in any listed company. Honestly, this isn't just about one company mismanaging funds. Itโs a red flag.
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Adani Groupย โขย 5m
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
See MoreKeen Learner and Exp...ย โขย 5m
India's Latest Start Up Scandal Gensol borrowed almost โน978 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 do
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Dexter Capital Advisorsย โขย 8m
Blusmart founderโs listed entity, Gensol, has claimed that it has received 30k pre-bookings for its three-wheel car, which was recently displayed at Bharat Auto Expo ๐๐ While thatโs making much noise, I am not as enthused about it for two reasons
See MoreYour partner from St...ย โขย 4m
BluSmartโs Reboot: A Story of Promise, Pitfalls, and Possible Redemption In a dramatic turn for Indiaโs all-electric ride-hailing pioneer BluSmart, major investors including BP Ventures are now in advanced talks to acquire co-founder Anmol Singh Jag
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Dexter Capital Advisorsย โขย 6m
I wish media had reported why Blusmart/Gensolโs recent deal with Refex was called off 3 days ago ๐๐ Almost a lakh Gensol public shareholders and the many bondholders of Blusmart deserve answers. While the company has not shared the reason for canc
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Set2Scoreย โขย 7m
A new, sustainable rideshare platform that is leaving behind Ola and Uber. ๐ถ๐๐ ๐๐น๐๐ฒ๐๐บ๐ฎ๐ฟ๐ !! Today, while traveling with BluSmart during my marathon, I had a conversation with the driver, and he literally helped me with my content by sha
See MoreKeen Learner and Exp...ย โขย 5m
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
See MoreFounderย โขย 3m
Thrilled to share that I've successfully completed the SEBI Investor Awareness Test! ๐ Huge thanks to SEBI - Securities and Exchange Board of India and NISM (National Institute of Securities Markets) for this valuable learning experience. Committed
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