The viral post claims the company shut operations in February 2025, citing unpaid salaries and unreturned wallet balances.
BluSmart, the all-electric ride-hailing company, became the center of controversy after a post from its official X (formerly Twitter) account alleged that the company had been shut down earlier this year due to founder fraud. The post also claimed that employees hadn’t received salaries for the past four months, warning users not to expect refunds for wallet balances.
The now-viral message read:
“Everyone, BluSmart company has been shut since Feb’2025. Founders have done the fraud. Do not expect any refund of your wallet money. Even the employees have also not got their 4 months salary. No point messaging on social media.”
The unexpected post triggered a storm of reactions online, with users divided over whether it was a legitimate whistleblower disclosure or the act of a frustrated ex-employee. Within hours, social media was abuzz with speculation, memes, and theories about who had access to the account and what might have prompted such a public statement.
Some users suggested that the message could have come from someone in the company’s social media team who still had account access. One comment read, “Intern still had the creds and took revenge,” while another said, “Looks like someone from the team venting over unpaid salaries.”
According to a Mint report, BluSmart – co-founded by Gensol Engineering director Anmol Singh Jaggi – had already suspended operations earlier this year, following a SEBI order barring Jaggi from the securities market in February 2025. The action came after allegations that Jaggi diverted company funds from Gensol for personal expenses, including the purchase of a luxury apartment and a golf set.
On July 28, 2025, the National Company Law Tribunal (NCLT) approved insolvency proceedings against BluSmart after financial creditor Catalyst Trusteeship filed a petition in May. The plea alleged defaults on multiple payments due in February, March, and April – totaling ₹1.28 crore.
While BluSmart’s social media activity has raised more questions than answers, the incident underscores the growing tension surrounding the company’s finances, leadership, and future.
