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Sanskar

Keen Learner & Explo...ย โ€ขย 21d

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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Gautam Ambani

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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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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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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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IncorpX

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BluSmartโ€™s Reboot: A Story of Promise, Pitfalls, and Possible Redemption In a dramatic turn for Indiaโ€™s 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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Rohan Saha

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After Gensol's fraudulent activities, even BluSmart has stopped taking bookings in many areas now. Gensol was a very important partner for them the majority of the vehicles that BluSmart had were leased to them by Gensol. Now, they're even having tro

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I wish media had reported why Blusmart/Gensolโ€™s recent deal with Refex was called off 3 days ago ๐Ÿ™๐Ÿ™ 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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vishakha Jangir

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A new, sustainable rideshare platform that is leaving behind Ola and Uber. ๐—ถ๐˜๐˜€ ๐—•๐—น๐˜‚๐—ฒ๐˜€๐—บ๐—ฎ๐—ฟ๐˜ !! 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

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Tanuj Kelkar

Go toย โ€ขย 1m

Something interesting read today - 1. Perplexity shown interest to acquire TikTok. 2. Uber in discussion to acquire BluSmart.

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