BluSmart Mobility, the electric vehicle ride-hailing startup, has been admitted into insolvency proceedings by the National Company Law Tribunal (NCLT), Ahmedabad, following a creditor petition filed by Catalyst Trusteeship. The tribunal’s order, delivered on July 28, comes as a blow to BluSmart and adds to the growing turbulence faced by the Gurugram-based company.

According to tribunal records reviewed by Entrackr, the insolvency process was initiated after BluSmart defaulted on servicing its Rs 15 crore debt raised through 15 secured, redeemable non-convertible debentures (NCDs) issued in April 2023. Catalyst Trusteeship, acting as debenture trustee for InCred…

The Ahmedabad bench of the National Company Law Tribunal (NCLT) has admitted a bankruptcy plea against ride-hailing startup BluSmart Mobility, marking another blow to the electric vehicle startup ecosystem. The insolvency proceedings were triggered following a petition filed by Catalyst Trusteeship, which approached the court in its capacity as a financial creditor.

The tribunal’s order, delivered on July 28, directed the commencement of corporate insolvency resolution proceedings (CIRP) against BluSmart Mobility. The court also appointed an interim Resolution Professional (IRP) — NPV Insolvency Professionals — to oversee the company’s operations and safeguard its assets during the resolution…

Record-Breaking Bets On Super Bowl 2024

According to the gambling industry’s National Trade Association, nearly 68 million American adults (about 1 in 4) bet on last night’s Super Bowl LVIII (58), setting an all-time record by an incredibly wide margin.

In a report released days before the big game, the American Gaming Association tallied bets made by legal outlets, illegal bookies, and online bets outside the U.S. and found that bettors planned to wager roughly $23.1 billion on the Super Bowl; nearly $16 billion higher than last year.

Of this year’s record-breaking bets, only $1.5 billion is estimated to have been placed legally. This means that nearly 95% of all bets made on last night’s game came from illegal or unregulated…

The Insolvency and Bankruptcy Code (IBC), since its enactment, has undergone six legislative amendments aimed at strengthening the insolvency framework and enhancing procedural efficiency in line with evolving market dynamics. This information was provided by the Minister of State in the Ministry of Corporate Affairs, Harsh Malhotra, in response to an Unstarred Question in the Lok Sabha raised by Dr. Mallu Ravi on 28 July 2025.

The key amendments to the Code are as follows:

• First Amendment (2017): This introduced Section 29A to prohibit individuals with questionable antecedents from submitting resolution plans or taking over financially distressed companies.
• Second Amendment (2018): This amendment lowered the voting…

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The weekend before last, Brown asked Wilson to look into Singh’s business interests.

Today, Wilson said everything was above board from a business point of view, appropriate declarations were made to the council about a development Singh was undertaking, and there was no evidence of impropriety or conflicts with his work responsibilities.

And while Singh was not required to make a formal declaration of interest about the liquidation of his property company Traxx Investments and the tax liability, the information should have been disclosed to the mayor and himself, Wilson said.

A NOTE ABOUT RELEVANT ADVERTISING: We collect information about the content (including ads) you use across this site and use it to make both advertising and content more relevant to you on our network and other sites. Find out more about our policy and your choices, including how to opt-out.Sometimes our articles will try to help you find the right product at the right price. We may receive payment from third parties for publishing this content or when you make a purchase through the links on our sites.