The fall of Blusmart sent shock waves through the start -up ecosystem of India and for Aman Gupta de Boat, it is more than a simple business collapse. It’s an alarm clock. Thinking about the impact of controversy, Gupta shared a deeply personal position, highlighting the damage and lessons that must be learned. His message is clear: it is not only a question of the misconduct of a company. This is the foundation of confidence, ethics and governance in the world of startups.
Calling the incident “hard” and “sad”, Aman Gupta, co-founder and CMO of boat, said that the blusmart situation is an “essential reality control” for the whole ecosystem of startups.
In an article on X, he broke the benefits:
“I know what it does:
– Investors have lost money
– The founders have lost years of hard work
– Employees have lost stability
– And customers have lost a service they really liked (I hope they get the money in the Bluesmart portfolio) ”
But the damage, underlined Gupta, goes beyond the financial loss. “It also trusted the ecosystem. You will now hear:” Yaad Hai Blusmart ke Saath Kya Hua Tha?! “”
He warned that reputation setbacks such as this risk of bypassing the wider story of startup. “These are the damage that we cannot afford,” he wrote. However, he urged the founders not to lose faith: “Even world multinationals had their collapses. What matters is the way we, as a country and ecosystem, rebounds. The Indian startup ecosystem is resilient. We are always raising stronger. ”
GUPTA, an authorized qualification accountant, stressed that ethics and governance are not optional. “Compliance and ethics are not checking boxes. They are the foundation,” he said. “Clean books, timely audits, transparent reports … All so-called” not so cool tasks “make companies sustainable”.
By referring to a childhood lesson, he added: “Jo Bhi Karo, Dil se Karo. By Galat Na Karo. The same rule also applies to affairs 😊”
He also called for better diligence at all levels. “EQ, IQ & GQ (governance quotient) SAB IMPORTANT HOST HAI. I hope that more founders will pressure for a real reasonable diligence-not only in finance, but in culture, in operations and in responsibility,” he said.
Meanwhile, the Blusmart problem has won the regulatory severity after Sebi has prohibited that Anmol and Puneet Jaggi by Gensol Engineering to hold key positions in listed companies. The provisional order of the guard dog reported differences in peopleol’s disclosure on pre -orders for 30,000 electric vehicles and a manufacturing plant based in Pune.
The Sebi’s investigation began after a complaint in June 2024, the alleged manipulation of the course of action and the embezzlement of funds.
