‘Hunt of the current landscape’: Ashner Grover defends Blousmart investment of Rs 1.5 crore between Sebi Crackdown

Bharatpe’s co-founder and an individual investor in Blasmart, Ashner Grover, has called himself a “victim” situation “victim” after a sudden suspension of SEBI Crackdown on Gensol Engineering and EV Cab service provider.
Grover revealed that he had invested Rs 1.5 crore in Bluusmart and Rs 25 lakh in Matrix, expressing concern over the current troubles of the company. He said in a public statement, “This Gensol/Bluusmart Fiasco is shameful by pulling the name of my company and my company.” “In fact, I am the ‘victim’ of the current scenario, who is personally investing in Blousmart.”
“I am a ‘victim’ of the current landscape, which has personally invested Rs 1.5 crore in Bluusmart and Rs 0.25 crore in Matrix. I hope that the business / company can escape the current Fiysco for its stakeholders, “he added to A post on X.
Emphasizing that he does not have any operating role in Gennsol or Blousart, Grover clarified that he was only a shareholder and was not involved in any managerial or financial decisions. He said that he hoped that Blasmart could avoid the current crisis “for his stakeholders.”
Grover also offered to make his bank account and tax returns details public to prove the validity of his participation. He said that in a private limited company, it is the responsibility of the coming shareholders to declare the source of their money, not to verify the company’s responsibility. “A private limited company is not responsible for operating shareholders or to find out the source of their money,” he said.
Background: SEBI Crackdown and Blasmart Service Shutdown
The dispute began after a SEBI investigation, which was leveled to serious financial misconduct by Gensol Engineering co-founder Anmol and Puneet Singh Jaggi. Investigations revealed that the promoters had twisted an important part of the company’s funds – originally to buy electric vehicles for Bluusmart – personal benefits.
This included purchasing a luxury apartment in Gurugram, increasing the price of stock of Jensol through manipulated trades and using company funds for unrelated personal expenses. The investigation also flagged off forged documents and violations of corporate administration criteria. In response, SEBI stopped both promoters from the Securities Market and ordered a forensic audit of Gensol’s financial records.