Insolvency plea against EV ride-hailing start-up BluSmart has been accepted
What's the story
The National Company Law Tribunal (NCLT) has accepted an insolvency petition against BluSmart Mobility Tech, a company that offered all-electric ride-hailing services and was building EV charging infrastructure in India. The Ahmedabad bench of the NCLT admitted the plea filed by Lepton Software Export and Research over an unpaid amount of ₹5.84 crore. It has appointed Pawan Kumar Goyal as interim resolution professional and suspended the company's board.
Legal proceedings
Company placed under moratorium
The NCLT has also placed BluSmart Mobility Tech under a moratorium, as per the provisions of the Insolvency & Bankruptcy Code (IBC). This means that all legal proceedings against the company are put on hold. The tribunal has directed the interim resolution professional to take full control of BluSmart Mobility's assets and documents.
Contractual conflict
Lepton Software claimed services continued on ad-hoc basis
Lepton Software claimed that it provided Google Maps platform services to BluSmart Mobility Tech for its ride-sharing services under an agreement from October 1, 2022, to September 2023. The contract was renewed till September 30, 2024. Lepton alleged that the services continued on an ad-hoc basis and invoices for the entire financial year FY25 remained unpaid. However, BluSmart Mobility denied any operational debt and called the petition misconceived.
Tribunal decision
NCLT noted partial liability acknowledged by BluSmart Mobility
The NCLT noted that BluSmart Mobility does not dispute pre-expiry invoices (up to September 2024) and has acknowledged partial liability. The tribunal said even if only pre-expiry dues are considered, the admitted outstanding of ₹30,34,764.50 is supplemented by post-expiry claims. It also observed that emails from the corporate debtor show continued usage of services without any objection or requests for invoices and admissions of liability.
Business structure
A look at BluSmart Group
BluSmart Mobility Tech is part of the BluSmart Group, which also includes BluSmart Mobility Ltd and its four subsidiaries. The group's operational ecosystem runs on three verticals, technology, fleet, and charging infrastructure, all interconnected to serve stakeholders.