BluSmart bond holders may invoke immediate repayment provisions

Investors in BluSmart Mobility’s bonds are planning to invoke the ‘Event of Default’ provision and seek immediate repayment of their money, as the company that operates an all-electric cab service faces allegations of governance lapses.

BluSmart issued non-convertible debentures, or corporate bonds, worth more than Rs 100 crore in the last one year to new-age bond issuance platforms like Yubi, Klub and Centricity. These platforms sold the bonds to their network of clients who typically comprise wealthy individuals but also include some retail…