BluSmart, India’s first fully-EV cab service, has stopped taking bookings after the Securities and Exchange Board of India (SEBI) barred Anmol and Puneet Jaggi, founders of Gensol Engineering from holding key roles in listed companies. Gensol is the main financial backer and EV leasing partner of BluSmart, which was co-founded by the Jaggi brothers along with Punit Goyal.
SEBI’s investigation into the Jaggis and Gensol spurred a domino effect across BluSmart as well. The developments led BluSmart to drop all bookings, leaving its customers – especially its permanent, daily users – in the lurch. Many of these customers had a substantial amount deposited in the wallet, named Blu Cab Wallet.
One user said she put Rs 20,000 in the wallet for the year, and still has Rs 16,474 left in it. She said she mailed the company but received a non-committal reply. Another user said he put Rs 30,000 in the wallet in January, and is still left with Rs 18,500. Yet another user said she had Rs 5,000 in the wallet and Rs 2,000 for ‘Elite Subscription’.
While some said they “felt abandoned” at not being able to take a BluSmart cab from today, another said it was sad to see it “go down this way like Byju’s”. Byju’s, once a unicorn and one of India’s biggest startups, has been undergoing financial, operational and regulatory challenges.
Many, on social media, asked what will happen to the money in the Blu Cab Wallet now?
BluSmart had responded to a customer saying that the money has a lifetime validity and will remain in the account. It could be further used to book a ride.
The customer told India Today Digital that upon pointing out that no further slots were available on the app – something that customers have been lamenting on the social media – the company told the user, “I would like to inform you that I am raising your request to refund in the source amount with the relevant team and stay assured your amount will be refunded within 5-7 working days. I request you to wait for the given time frame and then check for the same.”
The company is yet to issue a public statement on its operations and the funds in individual wallets.
HOW TO CLAIM BLU CAB WALLET REFUND?
If you have money stuck in your Blu Cab Wallet, here’s what you can do:
- Go to the BluSmart app
- Go to the menu icon on the top left
- Go to Help in the lowdown
- From there, go to Blu Wallet in the lowdown
- Go to the FAQ section, and press the thumbs-down near the ‘Does this solve your issue?’ question
- It will let you the option of connecting with an agent
- You can connect with the agent, request for the refund, which will be processed in 5-7 days
