BluSmart appoints Grant Thornton for a forensic audit

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BluSmart has appointed Grant Thornton for a forensic audit after a regulatory investigation found its co-founder allegedly diverted and misused funds which were meant to buy cars, two people with direct knowledge said.

A rival to Uber and India’s Ola, BluSmart became hugely popular with its all-electric fleet of more than 8,000 taxis, setting up large-scale charging hubs in cities such as New Delhi, Mumbai and Bengaluru. In 2023, the company said it had a 9% market share in New Delhi.

BluSmart suspended services last week after market regulator Sebi



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BluSmart appoints Grant Thornton for a forensic audit


BluSmart has appointed Grant Thornton for a forensic audit after a regulatory investigation found its co-founder allegedly diverted and misused funds which were meant to buy cars, two people with direct knowledge said.

A rival to Uber and India’s Ola, BluSmart became hugely popular with its all-electric fleet of more than 8,000 taxis, setting up large-scale charging hubs in cities such as New Delhi, Mumbai and Bengaluru. In 2023, the company said it had a 9% market share in New Delhi.

BluSmart suspended services last week after market regulator Sebi



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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