Set in April 2025, this case examines the collapse of Indian clean-energy firms Gensol Engineering Ltd. and BluSmart Mobility Ltd. (BluSmart) and the ethical challenges faced by BluSmart cofounder Punit Goyal. Once recognized for advancing sustainable transportation, both companies faltered amid allegations of fund misuse, governance breakdowns, and regulatory noncompliance. The case explores founder accountability, interfirm dependencies, and the risks of concentrated decision-making. Students assess whether independent leadership can restore credibility or whether the founders should retain control, raising broader questions of governance, transparency, and ethical leadership.
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