Blu-Smart Mobility Tech – NCLT Admits Insolvency Case

Expert Analysis:

• The National Company Law Tribunal (NCLT), Ahmedabad bench, has admitted an insolvency plea against Blu-Smart Mobility Tech Pvt Ltd over unpaid dues of ₹5.84 crore claimed by operational creditor Lepton Software Export and Research.

• The tribunal initiated the Corporate Insolvency Resolution Process (CIRP) under Section 9(5) of the Insolvency and Bankruptcy Code and appointed Pawan Kumar Goyal as the Interim Resolution Professional (IRP), while also suspending the company’s board.

• NCLT imposed a moratorium on the company’s operations and assets, directing the IRP to take control of Blu-Smart Mobility Tech’s records, assets, and business affairs during the insolvency process.

• The insolvency petition arose from a service agreement under which Lepton Software provided Google Maps Platform services for Blu-Smart’s ride-hailing operations, with invoices for FY25 remaining unpaid.

• Blu-Smart argued that some invoices were raised after the agreement expired; however, the tribunal noted the company had acknowledged partial liability for earlier dues and continued to use services, supporting the creditor’s claim.