{"id":283973,"date":"2025-04-17T06:51:46","date_gmt":"2025-04-17T06:51:46","guid":{"rendered":"https:\/\/news.talkwithrattan.com\/index.php\/2025\/04\/17\/victim-of-current-scenario-ashneer-grover-defends-rs-1-5-crore-blusmart-investment-amid-sebi-crackdown-times-of-india\/"},"modified":"2025-04-17T06:51:46","modified_gmt":"2025-04-17T06:51:46","slug":"victim-of-current-scenario-ashneer-grover-defends-rs-1-5-crore-blusmart-investment-amid-sebi-crackdown-times-of-india","status":"publish","type":"post","link":"https:\/\/news.talkwithrattan.com\/index.php\/2025\/04\/17\/victim-of-current-scenario-ashneer-grover-defends-rs-1-5-crore-blusmart-investment-amid-sebi-crackdown-times-of-india\/","title":{"rendered":"‘Victim of current scenario’: Ashneer Grover defends Rs 1.5 crore Blusmart investment amid Sebi crackdown – Times of India"},"content":{"rendered":"
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Ashneer Grover (File photo)<\/span><\/div>\n<\/section>\n<\/div><\/div>\n<\/div>\n

Ashneer Grover<\/a>, co-founder of BharatPe<\/a> and a personal investor in BluSmart<\/a>, has spoken out following the Sebi crackdown on Gensol Engineering<\/a> and the sudden suspension of operations by EV cab service<\/a> provider, calling himself a \u201cvictim\u201d of the situation.
Grover revealed that he had invested Rs 1.5 crore in BluSmart and Rs 25 lakh in Matrix, expressing concern over the company’s current troubles. \u201cDragging my and my company\u2019s name in this Gensol\/BluSmart fiasco is rather shameful,\u201d he said in a public statement. \u201cIn fact, I am the \u2018victim\u2019 of the current scenario, having personally invested in BluSmart.\u201d
” I am the \u2018victim\u2019 of the current scenario having personally invested Rs 1.5 cr in BluSmart and Rs 0.25 cr in Matrix. I hope the business \/ company can survive the current fiasco for sake of its stakeholders,” he added to his a post on X.
Emphasizing that he holds no operational role in either Gensol or BluSmart, Grover clarified that he was simply a shareholder and not involved in any managerial or financial decisions. He added that he hoped BluSmart could survive the current crisis \u201cfor the sake of its stakeholders.\u201d
Grover also offered to make his bank account and tax return details public to prove the legitimacy of his involvement. He underscored that in a private limited company, it is the responsibility of incoming shareholders to declare their source of funds, not the company’s obligation to verify them. \u201cA private limited company is not liable for the conduct of shareholders or for ascertaining their source of funds,\u201d he stated.
Background: SEBI crackdown and BluSmart service shutdown
The controversy began after a SEBI investigation<\/a> levelled serious financial misconduct by Anmol and Puneet Singh Jaggi, co-founders of Gensol Engineering. The probe revealed that the promoters had diverted a significant portion of company funds\u2014originally meant for purchasing electric vehicles for BluSmart\u2014towards personal gains.
This included buying a luxury apartment in Gurugram, inflating Gensol\u2019s stock prices through manipulated trades, and using company funds for unrelated personal expenses. The investigation also flagged forged documents and violations of corporate governance norms. In response, SEBI barred both promoters from the securities market and ordered a forensic audit of Gensol\u2019s financial records.<\/div>\n