Скачать или смотреть BluSmart Scam: Indian EV Tech startup 260 crore fraud

Are you unable to book a BluSmart cab anymore? The electric vehicle ride-hailing company, once hailed as a revolutionary startup in India's mobility space, has suddenly vanished from the streets.

This video breaks down the financial wrongdoing and collapse that shook the Indian startup ecosystem. In 2024, a SEBI investigation revealed that Gensol Engineering (which leased EVs to BluSmart) secured a massive ₹978 crore loan from public lenders (IREDA & PFC) intended for purchasing a large fleet of EVs.

The reality? ₹262 crore was allegedly diverted by the promoters, Anmol Jaggi and Puneet Singh Jaggi, towards luxury apartments, family transfers, and other personal expenses instead of the required vehicles.

Watch to understand how this shocking breach of integrity led to the operation's collapse and raised serious questions about accountability in the high-stakes world of Indian startups