Cab Company BluSmart Halts Services In Delhi, Mumbai, Bengaluru: Here's Why

Electric cab service BluSmart has temporarily suspended its operations in Delhi NCR, Mumbai, and Bengaluru. Although the app is available on the Play Store, it doesn't allow users to book or schedule rides until May 7.

This comes after the Securities and Exchange Board of India (SEBI) found potential violations related to funding and compliance. BluSmart, co-founded by Anmol Singh Jaggi and Puneet Singh Jaggi - the promoters of Gensol Engineering Limited (GEL) - has come under scrutiny after SEBI banned the brothers from accessing the securities market and suspended their company's proposed stock split.

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