Bengaluru: Electric cab agargeterblusmart has pushed users to the users for 90 days before this week, pushed to the timeline to return the balance of the wallet, where it is operated, where it is operated, where a stagnation in riding booking in cities.
Many users have taken on social media to express concern over the lack of clarity on refunds.
Till Thursday, booking on the Blousmart app in Delhi-NCR was unavailable. If the services do not resume, it is advisable to wait for three months for refunds with the remaining amount in your Bluusmart wallet. In an email sent to customers, the company said, “We have decided to temporarily shut down the booking on the Blusmart app. We really appreciate your support. While we soon try to come back to serve with the same warmth and smile, we will start a refund within the next 90 days if services do not start again before.,
Blasmart, which is mainly operated in Delhi-NCR and Bengaluru, allows users to top their app wallets to pay for electric cab rides.
The development comes against the background of the ongoing investigation by SEBI in Gensol Engineering, a company associated with Bluusmart promoters Anmol Singh Jaggi and Puneet Singh Jaggi. SEBI has prevented Jaggi Brothers from board’s roles and securities market access, alleging that they turn loans for unrelated real estate deals, for vehicle financing.
Legal experts stated that the absence of a regulatory inspection on close-loop wallets such as Blousmart raised serious legal implications that directly affect the customer rights, return accountability and support mechanisms. “Closed loop wallets are exempted on prepaid payment equipment under RBI’s master directions, which means they are neither licensed nor supervised by the central bank.
The legal vacuum that provides the consumer the ability to reconstruct funds with any legal mandate on fund separation, refund timeline, or dispute resolution to recover funds, “said Sonam Chandwani, Managing Partner, KS Legal and Associates.
