Archive · 19 Sep 2025
BluSmart Fights Gensol Over Electric Car Lease Agreements
BluSmart, a ride-hailing company, and Gensol, a renewable energy firm, are both in trouble.
They share the same owners and are both bankrupt.
BluSmart leased over 4,000 electric cars from Gensol.
Now, BluSmart wants to keep using the cars it leased.
Gensol wants to lease the cars to others, but BluSmart says this could ruin their chances of getting out of bankruptcy.
Legal experts are stepping in because both companies are in bankruptcy and it's complicated.
Both companies are trying to figure out who gets to use the cars since they're losing value.
BluSmart's resolution professional wants the leasing issue resolved in a way that doesn't hurt their company.
BluSmart leased over 4,000 electric cars from Gensol.
Both BluSmart and Gensol filed for bankruptcy.
Gensol's IRP advertised bids to lease the cars to other companies.
BluSmart's resolution professional is contesting Gensol's actions.
Legal experts say the situation is legally complex due to the insolvencies.
- Who
- BluSmart and Gensol
- What
- Dispute over the lease of electric cars after both companies filed for bankruptcy.
- When
- Gensol was admitted to insolvency in June, and BluSmart followed in July.
- Where
- India
- Why
- To ensure BluSmart's bankruptcy resolution process is not jeopardized by the reassignment of leased vehicles.
- Companies Involved
- BluSmart, Gensol, PFC, Ireda
- Cars Leased from Gensol
- Over 4,000
- Gensol Insolvency
- June
- BluSmart Insolvency
- July
- Loan for EVs
- ₹663 crore from PFC and Ireda
- Gensol IRP Bids
- Inviting bids for 4,000 cars