New Delhi, April 17 -- BluSmart launched in 2018 and quickly stole the limelight, catching the attention of many angel investors who bought stakes of the company in various rounds of fundraising. The all-EV fleet, promise to be on time, and a greener alternative to traditional ride-hailing apps took India by storm, and investors saw an opportunity to benefit from the perks.

According to a report by NDTV Profit quoting data from PrivateCircle, Anmol Singh Jaggi holds almost 25 per cent stake at BluSmart, while his brother Puneet Singh Jaggi has a share of nearly 5 per cent in the company.

The Gensol Engineering co-founders, Jaggi brothers, had a smooth run with BluSmart until Sebi on Tuesday barred the company and them from the securitie...