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BluSmart bond holders may invoke immediate repayment provisions
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Investors in BluSmart Mobility’s bonds are planning to invoke the ‘Event of Default’ provision and seek immediate repayment of their money, as the company that operates an all-electric cab service faces allegations of governance lapses.
BluSmart issued non-convertible debentures, or corporate bonds, worth more than Rs 100 crore in the last one year to new-age bond issuance platforms like Yubi, Klub and Centricity. These platforms sold the bonds to their network of clients who typically comprise wealthy individuals but also include some retail…
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