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Scan for outdated or missing drivers - takes under a minuteDriver Scan →Clear out junk files and repair common Windows errorsFree Scan →BluSmart’s cab operations were reported suspended across Delhi-NCR, Bengaluru and Mumbai in April 2025. The shutdown coincided with SEBI action against Gensol Engineering and its directors, including BluSmart co-founder Anmol Singh Jaggi, but SEBI’s order was against Gensol and the directors—not a criminal conviction. Blu-Smart Mobility Tech later entered insolvency proceedings on October 14, 2025. The official insolvency site lists creditor materials updated through September 19, 2026, but the available sources do not establish whether rides are available now or how the proceeding ultimately concluded.
What happened to BluSmart?
Contemporaneous reports on April 16–17, 2025 said BluSmart had halted or suspended cab operations in Delhi-NCR, Bengaluru and Mumbai. The reports described a service shutdown; they do not, by themselves, establish the status of the app or ride availability today. Moneycontrol’s April 2025 report and Mint’s coverage reported the suspension.
The later development was a formal insolvency proceeding involving Blu-Smart Mobility Tech Private Limited. The company entered the corporate insolvency resolution process (CIRP) on October 14, 2025, according to its official insolvency site. That site displays creditor-list material dated September 19, 2026. CIRP means a process under India’s insolvency framework; commencement is not itself a final ruling on the company’s future.
Why was SEBI investigating?
SEBI’s April 15, 2025 interim order was directed at Gensol Engineering and its directors Anmol Singh Jaggi and Puneet Singh Jaggi. SEBI said it began examining Gensol after receiving a complaint in June 2024 concerning alleged share-price manipulation and diversion of funds. The regulator’s order addressed Gensol’s disclosures and financing, including its electric-vehicle procurement and leasing business, which connected the company to BluSmart. SEBI’s interim order sets out the regulator’s account and directions.
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SEBI’s order described Gensol as operating in solar consulting, engineering, procurement and construction (EPC), and EV leasing. It recorded loans of ₹977.75 crore, of which ₹663.89 crore was intended for 6,400 electric vehicles. Those are figures and stated loan purposes in the regulator’s order; they should not be read as amounts SEBI said were diverted.
The order also recorded Gensol’s response that it had procured 4,704 vehicles against funding for 6,400. That is the company’s position as recorded by SEBI, not a standalone finding that all of the difference was misused. In reviewing the case, SEBI discussed credit-rating concerns and information supplied to rating agencies in February and March 2025, including disputes over letters said to be from lenders. The order’s account is a regulatory record, not proof of a separately adjudicated criminal offence.
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What did SEBI do, and was anyone convicted?
On April 15, 2025, SEBI issued an interim order naming Gensol Engineering and its directors Anmol Singh Jaggi and Puneet Singh Jaggi. An interim regulatory order is not a criminal conviction. The distinction matters: the order describes SEBI’s examination, allegations and interim directions, rather than a criminal court’s verdict.
SEBI followed the interim action with a confirmatory order on July 30, 2025. The follow-up kept the regulatory matter active beyond the initial April order. The July confirmatory order is the primary source for that later step.
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How did Gensol’s business connect to BluSmart?
Gensol’s EV procurement and leasing activity was linked to BluSmart’s electric-cab business. That connection explains why a regulatory action involving Gensol drew attention to the ride service, but the companies and proceedings should not be conflated: SEBI’s April order named Gensol Engineering and its directors, while the later CIRP was for Blu-Smart Mobility Tech Private Limited.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.Is BluSmart cab service still available?
The cited reporting establishes that operations were reported suspended in three cities in April 2025. The official insolvency site establishes that Blu-Smart Mobility Tech entered CIRP on October 14, 2025, and shows creditor-list materials dated September 19, 2026. These sources do not establish current ride availability, approval of a resolution plan, or the final outcome of the insolvency proceeding. Check BluSmart’s current official service channels for a live availability statement; the insolvency site is the relevant official source for proceeding documents.
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