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One free scan finds every outdated or missing driver and matches the right update for your exact hardware.Free scan · exact hardware matchBluSmart’s cab operations were reported suspended in Delhi-NCR, Bengaluru and Mumbai in April 2025. The suspension came amid SEBI action against Gensol Engineering and its directors, including BluSmart co-founder Anmol Singh Jaggi. SEBI’s case concerned alleged conduct at Gensol—not a criminal conviction—and Blu-Smart Mobility Tech Private Limited later entered insolvency proceedings.
What happened to BluSmart’s cab service?
Contemporaneous reports on April 16–17, 2025 said BluSmart had halted or suspended rides in Delhi-NCR, Bengaluru and Mumbai. Those reports describe the service status at that time; they do not by themselves establish whether rides are available today.
The development was part of a wider financial and regulatory story. Gensol Engineering had a business connection to BluSmart through electric-vehicle procurement and leasing. SEBI’s April 2025 interim order targeted Gensol and its directors, while Blu-Smart Mobility Tech Private Limited—the company named in the later insolvency proceeding—entered the corporate insolvency resolution process (CIRP) in October 2025.
Why was SEBI investigating Gensol and its directors?
SEBI said it received a complaint in June 2024 concerning alleged share-price manipulation and diversion of funds from Gensol, and began examining the matter afterward. Its April 15, 2025 interim order named Gensol Engineering and directors Anmol Singh Jaggi and Puneet Singh Jaggi. Anmol Singh Jaggi was also associated with BluSmart.
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The order reviewed Gensol’s financing and disclosures, including concerns raised in February and March 2025 about credit ratings and information supplied to rating agencies. It recorded disputes over letters said to be from lenders. These are matters described in the regulator’s order; they should not be recast as independently adjudicated criminal facts.
SEBI’s action was regulatory, not a criminal conviction. The allegations and interim directions in the April order should be distinguished from the outcome of any criminal case. SEBI later issued a confirmatory order on July 30, 2025, following the interim order.
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How did Gensol’s electric-vehicle financing relate to BluSmart?
SEBI described Gensol as operating in solar consulting, engineering, procurement and construction services, and EV leasing. Its EV financing and leasing activity connected it to BluSmart’s fleet.
The interim order referred to ₹977.75 crore in loans and said ₹663.89 crore was intended for the purchase of 6,400 electric vehicles. These are figures and purpose descriptions from SEBI’s order; they are not, by themselves, amounts proven to have been diverted.
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The order also recorded Gensol’s response that it had procured 4,704 vehicles against funding for 6,400. That is the company’s statement as recorded by SEBI, not a finding that all funding was misused.
What happened after the April 2025 suspension?
The key later development was the insolvency proceeding for Blu-Smart Mobility Tech Private Limited. The official CIRP site says the Ahmedabad National Company Law Tribunal initiated the process on October 14, 2025. The site displays creditor-list materials updated as of September 19, 2026.
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CIRP is a formal insolvency process; its commencement is not the same as a final decision on the company’s fate. The available dated information establishes that the process began and that creditor materials were updated, but does not establish whether a resolution plan has been approved or the final disposition of the proceeding.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.Is BluSmart cab service available now?
The April 2025 reports establish that operations were suspended in the three named markets then. The later CIRP record establishes insolvency proceedings for Blu-Smart Mobility Tech Private Limited. Neither fact confirms current ride availability, so check BluSmart’s official service channels before relying on the app or planning a trip.
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Timeline
- June 2024: SEBI says it received a complaint about alleged share-price manipulation and diversion of funds at Gensol, then began examining the matter.
- February–March 2025: SEBI’s order reviews credit-rating concerns and information provided to rating agencies, including disputes over letters said to be from lenders.
- April 15, 2025: SEBI issued an interim order naming Gensol Engineering and directors Anmol Singh Jaggi and Puneet Singh Jaggi.
- April 16–17, 2025: News reports said BluSmart cab operations had halted or been suspended in Delhi-NCR, Bengaluru and Mumbai.
- July 30, 2025: SEBI issued a confirmatory order following its interim order.
- October 14, 2025: CIRP began for Blu-Smart Mobility Tech Private Limited, according to the official insolvency site.
- September 19, 2026: The official site displays creditor-list materials with this as-of date.
Product prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on Amazon at the time of purchase will apply.
