Marred by multiple challenges, BluSmart, once a star of the Gensol universe, has become a black hole.
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Anmol Jaggi has led Gensol to disaster. As investors face the brunt of his mistakes, the only question to answer is: is he incompetent or is there malice in his actions? For any answer to emerge, he must first step aside.
The Bengaluru-based edtech company seems to have flogged its US assets multiple times over the years, putting a question mark on the ownership of the entities that stood guarantee for its $1.2 billion term loan.
In the face of far more competent ride-hailing rivals and with a limited fleet of luxury cars, the startup is unlikely to make a dent in the UAE market.