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BluSmart suspends services in major Indian cities amid SEBI investigation into fund misuse by co-founders.
Electric ride-hailing company BluSmart has suspended services in Mumbai, Delhi-NCR, and Bengaluru after India's SEBI launched an investigation into its parent company, Gensol Engineering, over alleged fund misappropriation.
The probe involves BluSmart's co-founders, who are accused of misusing funds for personal purposes.
The suspension has left thousands of users and drivers uncertain about the company's future, with some reports suggesting BluSmart may transition its fleet to Uber.
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BluSmart suspende los servicios en las principales ciudades indias en medio de la investigación de SEBI sobre el uso indebido de fondos por parte de los cofundadores.