India, Sept. 12 -- Defunct electric ride-hailing startup BluSmart's official website domain "blu-smart.com" is now up for sale. A quick check of the BluSmart website revealed that visitors to the site are redirected to a parked page that states that the domain can be acquired.

The development comes on the back of a series of troubles plaguing the company. In April, markets regulator SEBI found Gensol promoters and BluSmart cofounders Anmol Singh Jaggi and Puneet Singh Jaggi guilty of misutilising company funds in a "fraudulent manner".

In its order, the regulator said Gensol tried to mislead SEBI, credit rating agencies (CRAs), lenders, and investors by submitting forged conduct letters allegedly issued by its lenders. SEBI also barred ...