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Medikabazaar. BluSmart. Who’s next? Two major Indian startups—one in healthtech, one in EV mobility—are now at the center of financial misconduct. Medikabazaar is facing a ₹279 Cr indemnity claim after forensic audits revealed inflated revenues and fiduciary lapses under ex-CEO Vivek Tiwari. Different industries, same red flags: misgovernance, fake documents, and broken trust. We’re not just dealing with failed startups—we’re dealing with a crisis of ethics. Will investors become more cautious? Will boards finally step up? Because hype without integrity can’t build a lasting company. Are these isolated cases—or the start of a governance reckoning? Let’s discuss.