Struggling with insolvency, BluSmart’s valuable EV fleet and tech assets are trapped in subsidiaries, complicating creditor recovery and leaving its future uncertain.
BluSmart, the electric cab firm, is grappling with a complex insolvency case that began on July 29, 2025, when the National Company Law Tribunal (NCLT) admitted a petition from a creditor.
The case has uncovered major challenges in valuing the company’s assets, particularly its fleet of electric vehicles (EVs) and proprietary technology, which are locked within subsidiaries not automatically included in the insolvency process.
Founded in 2019 by Anmol Singh Jaggi, Punit Goyal, and Puneet Singh Jaggi, BluSmart operated with an asset-light…