How BluSmart’s Closest Ally Became Its Biggest Risk

“In 10 years, everyone in India should be able to get a BluSmart EV cab within 5 minutes.” This is what Anmol Jaggi, cofounder of BluSmart — and chairman and MD of listed company Gensol Engineering — said in a press conference, as recently as February 2025. 

It’s only been a month, but the turnaround has been swift. Since then, publicly listed Gensol Engineering has come under the scanner due to debt and liquidity issues. And this controversy has also cast a shadow on BluSmart’s future. 

That’s because Gensol was BluSmart’s…