A big bang announcement to manufacture electric cars and multiple rollout deadlines later, his publicly listed Gensol Engineering has little to show for except a tadpole-like three-wheeler that is yet to prove itself.
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A letter from one of BluSmart’s largest investors reveals how the ride-hailing startup’s promoters withheld critical information from the shareholders and the board while providing consistently inaccurate financial forecasts.
With his back to the wall, the founder is exploring options that could benefit him much more than others. Even at the expense of the customers, investors, vendors and employees.
SEBI’s interim order details how the green energy poster boy built a paper empire with investor money while living a billionaire lifestyle.