BluSmart bookings paused amid Gensol controversy: Here's how to recover your balance

BluSmart, the electric ride-hailing startup once touted as a sustainable alternative to Uber and Ola, has abruptly suspended its operations across major cities, including Delhi-NCR, Bengaluru, and Mumbai. The sudden halt comes in the wake of an ongoing probe by the Securities and Exchange Board of India (SEBI) into Gensol Engineering, the company that financially backs BluSmart.

While BluSmart has yet to release an official statement regarding the suspension, reports indicate that the disruption follows SEBI's interim order against Gensol Engineering. The regulator has alleged that Gensol diverted Rs 262 crore—intended for the purchase of electric vehicles—towards other purposes, raising serious questions about financial misappropriation.

Although the BluSmart app remains live on app stores, users trying to book rides have found all time slots blocked and marked as "unavailable." The move has left customers stranded, especially those who relied on BluSmart for airport and intra-city travel.

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Refund troubles for users

Adding to the inconvenience, BluSmart's ride payment model—requiring customers to pre-load money into a proprietary Blu Wallet—has sparked concern among users trying to recover their balances. With services suspended indefinitely, many are now attempting to withdraw their unused funds.

Here's how affected users can initiate a refund:

• Open the BluSmart app and tap the menu icon in the top-left corner.
• Go to the "Help" section.
• Choose the "Blu Wallet" category from the list of help topics.
• Scroll down to "Does this resolve your issue?" and tap the thumbs-down icon.
• You will then be prompted to contact BluSmart's customer support and submit a refund request.

According to the company's standard procedure, once a refund is approved, the amount will be credited back to the original payment method within 5 to 7 working days.

What lies ahead?

BluSmart's future remains in limbo as regulatory scrutiny deepens. Sources suggest the company is considering exiting the direct ride-hailing space altogether, with talks of transitioning into a fleet partner for Uber reportedly underway. This shift could signal a significant restructuring of its business model.

Meanwhile, Delhi International Airport has issued a formal advisory confirming BluSmart's temporary suspension of operations at airport terminals, advising travelers to make alternate arrangements.