Gensol Defaults on Loan Tied to BluSmart Cabs

Gensol Engineering, related to the BluSmart electric cab service, missed a ₹4 crore payment to investors who had loaned money.

These loans were supported by the BluSmart cabs.

Since the cab service stopped and deals fell through, loan repayments have become uncertain.

Now, Vriksh Advisors manages the vehicles, with the goal of finding buyers or operators to repay the loans.

Investors, attracted by high returns, are now worried about getting their money back.

Additionally, Gensol's promoters are under investigation, and the company faces more financial challenges.