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NCLT admits insolvency case against Blu-Smart Mobility Tech after Google Maps vendor claims unpaid dues
The NCLT has admitted Blu-Smart Mobility Tech into bankruptcy proceedings after a Google Maps service provider claimed unpaid dues, deepening the EV startup’s financial troubles.
The National Company Law Tribunal has admitted an insolvency petition against Blu-Smart Mobility Tech, a subsidiary of electric ride-hailing startup Blu-Smart Group, in the latest setback for one of the country’s most prominent EV mobility players.
The Ahmedabad bench of the tribunal acted on a plea filed by Lepton Software Export and Research, which accused Blu-Smart Mobility Tech of defaulting on payments totaling Rs 5.84 crore, as per a PTI report. Lepton, a licensed reseller of Google Maps Platform services, said it provided location services to Blu-Smart for routing and navigation under a contract that ran through September 2024. Despite continued usage beyond the contract period, Lepton argued, invoices for the current fiscal year went unpaid.
A two-member panel of the tribunal rejected Blu-Smart’s contention that no operational debt existed, noting that the company had acknowledged at least part of its outstanding dues.
The tribunal appointed Pawan Kumar Goyal as interim resolution professional and imposed a moratorium under India’s Insolvency and Bankruptcy Code, effectively suspending the company’s board and placing all assets under court protection, as per the report.
Blu-Smart Mobility Tech is one of four subsidiaries under Blu-Smart Mobility Ltd, which itself is already undergoing insolvency proceedings. The group which was known for its fleet of electric taxis and expansive charging infrastructure in major Indian cities, operated through a tightly integrated ecosystem spanning technology, fleet operations and charging services.
With the parent company holding a 99.99 percent stake in each subsidiary, the resolution professional is seeking to consolidate control across the group’s entities, a move aimed at preserving value through collective restructuring rather than fragmented proceedings.
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