New Delhi, Oct. 10 -- Blusmart, an all-electric ride-hailing company, announced on X that it had shut down operations earlier this year, alleging fraud by its founders. It advised customers not to expect refunds, as even the employees had not been paid for four months.

The post read, "Everyone, BluSmart company has been shut since feb'2025. Founders have done the fraud. Do not expect any refund of your wallet money. Even the employees have also not got their 4 months salary. No point messaging on social media."

Blusmart, co-founded by Gensol Engineering director Anmol Singh Jaggi, suspended its services in cities such as Delhi-NCR, Mumbai, and Bengaluru earlier this year after market regulator Sebi barred Anmol Jaggi from the securities...