- BluSmart, once a promising all-electric ride-hailing startup in India, has ceased operations amid allegations of financial mismanagement.
- Founders Anmol and Puneet Jaggi face charges from SEBI, including fund diversion and market manipulation, leading to a leadership exodus and unpaid salaries.
- The company’s rapid rise and fall highlight the challenges startups face in maintaining financial integrity and operational sustainability.
👉 Why this matters: BluSmart’s collapse serves as a cautionary tale about the importance of transparent financial practices and robust governance in startups.
🔗 Source: India Today
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