After SEBI halted the operations of BlueSmart and Gensol Engineering, Ashneer Grover, the co-founder of Bharatpe, who had invested in the company, said that he is in no way involved in the operations of the company and is a victim, as he invested 1.5 crore in BlueSmart and 25 lakhs in Matrix.
The investor in a post on X said that it’s shameful how the media is dragging his name in the controversy, while he is the victim, as he invested so much in the company. In the same post, he further said that he wishes that the company survives the current turmoil, if not for themselves, then for the investors and stakeholders.
He also blamed the journalist for using his name instead of investigating the issue. “I am the ‘victim’ of the current scenario, having personally invested Rs 1.5 cr in BluSmart and Rs 0.25 cr in Matrix.”
The persistent dragging of his name in the debate has led him to remark that he is ready to publish his bank statements and tax details to clarify that he had no role whatsoever in the operations of BlueSmart.
He further said that in a private limited company, the onus of declaring funds is on the investors and not the company.
The issue began when SEBI started investigating the co-founders of Gensol Engineering, Anmol and Puneet Singh Jaggi, for serious financial misconduct. It was found that the founders were using the money invested in the company for their personal welfare. The misuse of funds included buying a flat in Gurugram and, inflation of Gensol’s stock prices. Among other things, the founders are alleged of forged documents and violated corporate governance practices, triggering the investigations and findings.
Aman Gupta, the founder of Boat, also took to social media to talk about the situation, saying that the company’s situation is tough and many have lost their money. But this is a reality check for the other players in the market as to how violation of practices and corporate value system can lead to the downfall of the company.
The X post by Ashneer Grover, where he addressed the situation.
