The unravelling of the BluSmart-Gensol fiasco might have created mixed feelings. On one hand, there’s a sense of anger when one sees what the Jaggi brothers did with Gensol. On the other hand, there’s a sense of sadness that a company, that one thought could solve the problems in the cab-hailing space, like timeliness, cleanliness and environmental sustainability, was being run into the ground due to the sheer greed of the founders. So, where do we go from here?
In the latest episode of RizingTV’s “Private Eye”, Tarun Bhatia, Regional Managing Director & Co-Head of APAC – Kroll, explores:
How this debacle seemed to stem from unchecked greed, a complete breakdown of corporate governance and more
How a company was able to collapse under the weight of opaque structures and related-party transactions
How VCs, who had access to capital, advisors and governance tools, may have missed seeing the impending iceberg
What could have been spotted earlier through forensic red flags and timely governance audits
Whether the role of IDs (Independent Directors) are under strain and why it’s hard to rely on them
What the real cost of this criminal conspiracy is and how it’s going to sour things for EV and EV financing companies in India
