NCLT Ahmedabad initiates insolvency proceedings against BluSmart

BluSmart Mobility, the electric vehicle ride-hailing startup, has been admitted into insolvency proceedings by the National Company Law Tribunal (NCLT), Ahmedabad, following a creditor petition filed by Catalyst Trusteeship. The tribunal’s order, delivered on July 28, comes as a blow to BluSmart and adds to the growing turbulence faced by the Gurugram-based company.

According to tribunal records reviewed by Entrackr, the insolvency process was initiated after BluSmart defaulted…