BluSmart begins pullback of ride-hailing operations

EV ride-hailing firm BluSmart has started suspending cab operations in certain areas of Delhi-NCR, Bengaluru and Mumbai, ET has learnt. Users reported not being able to book cabs on the company's app from Delhi Airport and certain areas of Delhi and Gurgaon.

ET was the first to report on April 14 that BluSmart was planning to stop its ride-hailing business as it transitions its vehicles to rival platform Uber.

The development of BluSmart's operations being disrupted come a day after the Securities and Exchange Board of India (Sebi) issued an interim order against Gensol Engineering -- which is promoted by BluSmart cofounder Anmol Singh Jaggi. The Sebi order outlined that Jaggi and his family members diverted loans availed by Gensol Engineering to procure electric vehicles. They used this money for various purposes including purchasing high-end apartments in Gurgaon.

BluSmart did not comment on its services being suspended.

ET had also reported earlier that BluSmart's operations had become truncated in the backdrop of the crisis surrounding Gensol Engineering. As of early this month, the company was already operating just half of the 25,000-30,000 daily rides it was doing at its peak last year.