Riders in Delhi, Mumbai, Bengaluru suddenly couldn’t book rides
BluSmart paused operations after SEBI flagged Gensol’s financial misuse
Gensol promoters, also co-founders of BluSmart, are now banned from market roles
BluSmart says bookings are “closed temporarily”; refunds after 90 days if not back
Users received app notifications, but many are confused and frustrated
Why this matters: Trust in new-age transport apps takes a hit. SEBI’s crackdown could change how startups handle investor and user money.
🔗 Source – Indian Express
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