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Insolvency proceedings begin against BluSmart
Financial Express Lucknow
|July 30, 2025
The National Company Law Tribunal (NCLT) has initiated insolvency proceedings against ride-hailing platform BluSmart Mobility on a plea by financial creditor Catalyst Trusteeship for a loan default of ₹1.3 crore.
BluSmart suspended operations in April amid growing financial stress following allegations of loan diversion and corporate governance lapses by the promoters of its parent company, Gensol Engineering. In April, the Securities and Exchange Board of India (Sebi) barred Gensol promoters Anmol Singh Jaggi and Puneet Singh Jaggi from the securities markets and from holding any key position in the company.
Dit verhaal komt uit de July 30, 2025-editie van Financial Express Lucknow.
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