BluSmart blames founders for fraud, says staff unpaid for 4 months: 'Don't expect wallet refund, no point in messaging on social media'

Electric mobility startup BluSmart has ceased operations since February 2025, leaving employees unpaid for four months. The company cited financial mismanagement by founders Anmol and Puneet Singh Jaggi, who are accused by SEBI of diverting loan funds from their listed company, Gensol Engineering, for personal use, including luxury purchases and cash transfers.