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BluSmart has appointed Grant Thornton for a forensic audit after a regulatory investigation found its co-founder allegedly diverted and misused funds which were meant to buy cars, two people with direct knowledge said.
A rival to Uber and India’s Ola, BluSmart became hugely popular with its all-electric fleet of more than 8,000 taxis, setting up large-scale charging hubs in cities such as New Delhi, Mumbai and Bengaluru. In 2023, the company said it had a 9% market share in New Delhi.
BluSmart suspended services last week after market regulator Sebi…
