The Ahmedabad bench of the National Company Law Tribunal (NCLT) has admitted an insolvency plea against electric vehicle ride-hailing startup BluSmart over unpaid financial obligations totalling INR 1.28 Cr
Catalyst Trusteeship, the petitioner, said BluSmart had issued 15 unsecured non-convertible debentures (NCDs) worth INR 15 Cr in April 2023
Acting as trustee for InCred Credit Opportunities Fund-I, Catalyst claimed that BluSmart missed payments of INR 64.17 Lakh in March and INR 63.31 Lakh in April this year
The…

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