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By:

Abhijit Mulye

21 August 2024 at 4:59:11 pm

MLC polls expose cracks in Mahayuti, MVA

AI Generated Image Mumbai: The upcoming Maharashtra Legislative Council (MLC) elections for the graduate and teacher constituencies have laid bare the deep-seated fissures within both the ruling Mahayuti and the opposition Maha Vikas Aghadi (MVA) alliances. In a significant development that could have far-reaching political implications, multiple rebel candidates, including prominent figures with strong party affiliations, have defied alliance dictates to file their nominations as...

MLC polls expose cracks in Mahayuti, MVA

AI Generated Image Mumbai: The upcoming Maharashtra Legislative Council (MLC) elections for the graduate and teacher constituencies have laid bare the deep-seated fissures within both the ruling Mahayuti and the opposition Maha Vikas Aghadi (MVA) alliances. In a significant development that could have far-reaching political implications, multiple rebel candidates, including prominent figures with strong party affiliations, have defied alliance dictates to file their nominations as independents, setting the stage for high-stakes, multi-cornered contests. Mahayuti Turmoil The Mahayuti alliance, comprising the Bharatiya Janata Party (BJP), the Eknath Shinde-led Shiv Sena, and the Ajit Pawar-led Nationalist Congress Party (NCP), is grappling with rebellion on multiple fronts. In the critical Nagpur Graduates constituency, a traditional BJP stronghold, former BJP MLC and Nagpur Mayor Anil Sole has thrown a spanner in the works by filing his nomination as an independent candidate. This move directly challenges the official BJP candidate, Sudhakar Kohale. While the BJP leadership, including state president Ravindra Chavan, has attempted to downplay the situation, asserting that Sole has been "pacified," the former MLC's actions tell a different story. Sole's decision to contest independently is particularly significant given his long-standing association with the Rashtriya Swayamsevak Sangh (RSS) and his previous stint as a BJP MLC from the very same constituency. The situation is equally complicated in the Amravati Teachers constituency. The Shiv Sena (Shinde faction) has officially fielded Kiran Sarnaik. However, adding to the confusion, Sangita Shinde, sister of BJP MP Anil Bonde, has also entered the fray, potentially splitting the Mahayuti vote. The opposition MVA is also facing its share of internal discord here. While the Congress has nominated Aditi Pohre, daughter of former minister Harshvardhan Deshmukh, the Shiv Sena (UBT) has fielded Dattatray Lahane. The presence of numerous candidates representing various teachers' organizations further complicates the electoral arithmetic in this constituency. Opposition Rebellion The Chhatrapati Sambhaji Nagar Graduates constituency has witnessed another surprise development. While the NCP's sitting MLC, Satish Chavan, was widely considered the frontrunner, the BJP's M.K. Deshmukh has unexpectedly filed his nomination as a rebel candidate, catching the Mahayuti leadership completely off guard. The MVA, too, is facing rebellion in this constituency. Although the seat was officially allocated to the NCP (Sharad Pawar faction), Shiv Sena (UBT)'s Dilip Ghuge has also filed his nomination, causing significant heartburn within the opposition alliance. The Pune constituencies present a microcosm of the larger alliance troubles. In the Pune Graduates constituency, the BJP has fielded Dr. Smita Jadhav, the daughter-in-law of Pratap Singh Jadhav, owner of the 'Pudhari' news group and niece of Congress leader Satej Patil. Adding intrigue to this contest is the fact that she is contesting against Harshada Deshmukh-Jadhav, the official candidate of the NCP (Sharad Pawar faction). However, the real drama is unfolding in the Pune Teachers constituency. The BJP's official candidate, Koustubh Gawde, is facing a formidable challenge from Mangesh Chiwate, a close confidant of Chief Minister Eknath Shinde. Chiwate, a former journalist who handled the CM's medical aid cell while Shinde was the CM, has claimed that his party leadership has provided him with the crucial 'AB' form, signaling official backing. Commenting on the chaotic situation, Chief Minister Devendra Fadnavis acknowledged that seat-sharing talks remained inconclusive in some areas but expressed hope that the alliance partners would eventually reach an agreement. The true picture of the electoral battlefield will only emerge after Friday, October 9th, the last date for the withdrawal of nominations. Until then, both alliances will be working overtime to contain the rebellions and present a united front, but the deep cracks exposed by these developments suggest that the upcoming MLC elections will be fiercely contested and highly unpredictable.

BluSmart Suspends Cab Services In Delhi-NCR, Mumbai, Bengaluru Amid SEBI Crackdown On Co-founder

PTI
Apr 17, 2025
3 min read

Electric cab-hailing platform BluSmart remained non-operational on Thursday across Delhi-NCR, Bengaluru, and Mumbai, as the market regulator cracked down on its co-founder over alleged misuse of funds at an affiliated company.

BluSmart app, that offered more than 8,000 taxis in the three metros, stopped taking bookings on Wednesday evening and remained unoperational on Thursday as well. The sudden suspension puts the livelihood of thousands of drivers at risk and has led to customers venting out their frustration on social media.


The company, backed by BP Ventures - an arm of the global energy giant BP - did not immediately offer any comments on the issue.


"We've decided to temporarily close bookings on the BluSmart app," the firm said in an email to customers without giving any reasons.

Earlier this week, Sebi (securities and exchange board of India) banned brothers Anmol and Puneet Jaggi from the stock market and ordered a forensic investigation into their listed renewable energy company Gensol. The investigation focuses on allegations that they used funds intended for procuring electric vehicles to purchase luxury apartments.


"I have almost 20K balance in BluSmart and today morning got this mail that BluSmart services are suspended. What is this???When can get the refund of BluSmart is getting closed," said a customer in a post on X on Wednesday and attached the screenshot of the company's e-mail.

BluSmart in the e-mail assured to initiate a refund to customers within 90 days.


"We truly appreciate your support. While we strive to be back soon, we will initiate a refund within 90 days if services do not resume before that," the e-mail said.

Another customer wrote on X: "I loved BluSmart. More than the money in the wallet, I am more concerned about driver partners who will be out of job until the saga plays out..."

Meanwhile, Delhi Airport on Tuesday evening issued a passenger advisory, stating that "BluSmart has temporarily suspended its operations at Delhi Airport".


Apart from providing services in the three Indian cities, BluSmart also offers premium all-electric limousine services in the UAE, which it launched last June.


The company, as on January 9, had a fleet of over 8,500 electric vehicles and a charging network of 5,800 stations across 50 hubs in Delhi-NCR and Bengaluru, and was supported by 10,000-plus active driver partners.


Sebi on Tuesday barred Gensol engineering and promoters -- Anmol Singh Jaggi and Puneet Singh Jaggi -- from the securities markets till further orders in a fund diversion and governance lapses case.

The regulator has also debarred Anmol and Puneet Singh Jaggi from holding the position of a director or key managerial personnel in Gensol until further orders.


Further, the markets watchdog directed Gensol Engineering Ltd (GEL) to put on hold the stock split announced by it.


The order came after the Securities and Exchange Board of India (Sebi) received a complaint in June 2024 relating to the manipulation of share price and diversion of funds from GEL and thereafter started examining the matter.



According to Sebi's order, Gensol Engineering secured a total of Rs 977.75 crore in loans from IREDA and PFC, of which Rs 663.89 crore was meant specifically for the purchase of 6,400 electric vehicles (EVs). EVs were procured by the company and subsequently leased to BluSmart, a related party.


However, in a response submitted to Sebi in February, Gensol admitted that it had procured only 4,704 EVs till date -- far less than 6,400 for which it had received funding. This was corroborated by Go-Auto Private Limited, the EV supplier, which confirmed delivering 4,704 units to the company for a total consideration of Rs 567.73 crore.



Given that Gensol was also required to provide an additional 20 per cent equity contribution, the total expected outlay for the EVs was around Rs 829.86 crore. By that calculation, Rs 262.13 crore remains unaccounted for.

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