NEW DELHI: Two more Gensol Engineering independent directors, Harsh Singh and Kuljit Singh Popli, have tendered their resignations amid the company facing allegations of misuse of funds, according to a regulatory filing on Thursday. On Wednesday, Gensol Engineering’s independent director, Arun Menon, resigned, saying there was growing concern on leveraging its balance sheet to fund…
Wallet refunds will take up to 90 days: BluSmart BENGALURU: Electric cab aggregatorBluSmart has pushed the timeline for refunding wallet balances to users to 90 days, up from six days earlier this week, amid a pause in ride bookings across cities where it operates.Several users have taken to social media to express concerns over the…
In July 2024 EV cab service BluSmart raised Rs 200 crore in funding from new investors like ex-India cricket team captain MS Dhoni and Responsability Investments, a private banking firm from Switzerland. That round took total funding since December 2023 to around Rs 710 crore. It also marked the completion of the Gurugram-based company’s pre-Series…
Ashneer Grover (File photo) Ashneer Grover, co-founder of BharatPe and a personal investor in BluSmart, has spoken out following the Sebi crackdown on Gensol Engineering and the sudden suspension of operations by EV cab service provider, calling himself a “victim” of the situation.Grover revealed that he had invested Rs 1.5 crore in BluSmart and Rs…
MUMBAI: Markets regulator Sebi on Tuesday barred the two promoters of Gensol Engineering, Anmol Singh Jaggi and Puneet Singh Jaggi, from the securities markets until further notice due to fund misappropriation and governance issues.Additionally, both the promoters have been barred from serving as directors or in any key managerial position in Gensol. The regulator also…
