India, April 17 -- BluSmart, the ride-hailing platform once regarded as a rising competitor to giants like Uber and Ola, has suddenly stopped accepting ride bookings in Delhi-NCR, Bengaluru and Mumbai. Regular BluSmart users are now left in the dark about what will happen to the funds in their existing Blu Wallet accounts.

Although the app remains available for download on both the Google Play Store and Apple App Store, users are currently unable to book a cab for any time slot. The company has not released an official statement regarding the suspension of services, but operations appear to have been halted following a SEBI investigation into Gensol Engineering - a sister company of BluSmart - which reportedly uncovered misuse of funds....