Share Crisis: MS Dhoni and Deepika Padukone’s money on the verge of drowning! Invested in this company
Share Disaster: The Blusmart Firm, which as soon as within the headlines for its inexperienced (inexperienced) enterprise mannequin and a totally electrical cab fleet, is at the moment dealing with a severe financial disaster. It has now reached the verge of closure after the corporate was accused of misuse of cash and monetary irregularities. The corporate has briefly closed its companies in different cities together with Delhi-NCR, Mumbai. Now the Securities and Alternate Board of India (SEBI) is investigating it.
Prabhat Khabar Digital Premium Story Blusmart Co-Founders severe allegations
Blusmart co-founder Anmol Singh Jaggi and his brother Punit Singh Jaggi, who’re additionally promoters of Gensol Engineering, alleged that they misused the debt taken within the identify of Gensol firm. SEBI investigation has revealed that these cash was used on private bills similar to luxurious flats, costly golf kits, journey and different luxurious moderately than enterprise goals. It’s being advised that about 262 crore rupees have been misused, which didn’t get any clear account.
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Resulting from this monetary irregularity, SEBI has stopped Jaggi Brothers from becoming a member of the administration of any firm. Additionally, they’ve been banned from any new stake or participation out there. This motion is making a big effect on the way forward for Blusmart.
Excessive-profile buyers concern (BLUSMART SRISISIS
From the time of the institution of Blusmart, many veteran buyers performed their participation in it. In 2019, Deepika Padukone’s household workplace together with Bajaj Capital, Jito Angel Community and Rajat Gupta invested $ 3 million within the firm’s Angel Funding Spherical.
Even after this, the corporate raised cash in a number of funding rounds, through which through the pre-series B spherical in 2024, Blusmart raised about $ 24 million (about Rs 200 crore). On this funding period, former captain of the Indian cricket crew, Mahendra Singh Dhoni, Sumant Sinha, Chairman of Renue Energy, and the Impression Investor Accountability Investments of Switzerland have been included.
Ashir Grover’s response to blusmart disaster ashneer Grover
Former choose and investor of ‘Shark Tank India’, Ashneer Grover additionally invested in BLUSMART. He wrote on X (East Twitter) that he had invested Rs 1.5 crore personally, and Rs 25 lakh by a matrix. He described himself as a ‘aggrieved investor’ on this scenario and hoped that the corporate would have the ability to get better from this disaster quickly.
I didn’t see any title saying that “Rajiv Singh’s DLF or Ratan Tata’s Titan was funded.” Indian enterprise journalists are very worst and initially anpadh @moneycontrolcom @economictimes! Kuch additionally within the headlines Bana Do – Views.
Indian journalism is definitely …
– Ashneer Grover (@ashneer_grover) April 17, 2025 deep relations between Gensol and Blusmart
Though Blusmart is just not a proper subsidiary of Gensol, a deep monetary relationship has been discovered between the 2. SEBI investigation has revealed that there was a transaction of greater than Rs 148 crore between Gensol and BLUSMART subsidiaries, which makes the partnership and monetary hyperlinks between the 2 corporations clear.
Blusmart firm’s future in steadiness
Issues about Blusmart are getting deeper. At one time this startup was some of the rising names to advertise e-dubility in India, however now it’s in deep disaster on account of scams and irregularities. If the corporate couldn’t discover a answer quickly, it might probably turn out to be one other story of failure in India’s startup ecosystem.
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