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The Independent UK
The Independent UK
Arpan Rai

BluSmart: Indian EV cab startup’s success story shaken by allegations of family excess

Blusmart Anmol Singh Jaggi SEBI India Gensol Gensol Engineering Ola Uber
Gensol engineering had loaned money for purchasing at least 6,400 electric vehicles for leasing to BluSmart - (YouTube)

The family that founded one of India’s leading electric cab booking services has been hit with allegations of misappropriation of loan funds by the country’s market regulator.

BluSmart has emerged as a strong disruptor in a market dominated by Uber and its local rival Ola, providing a climate-friendly alternative in most major Indian cities.

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