The Gensol-BluSmart Saga: A Blueprint for Rebuilding Trust in India’s Corporate Ecosystem The collapse of Gensol Engineering and BluSmart Mobility isn’t just a corporate scandal—it’s a clarion call for systemic reform. With ₹978 crore in diverted loans, an 85% stock plunge, and 6,000+ EVs grounded, this case exposes critical gaps in governance. But within every crisis lies an opportunity to learn. Let’s transform lessons into action. The Problem: Governance Failures in Numbers ₹262 crore unaccounted: Funds meant for EVs diverted to luxury apartments (₹42.94 crore) and promoter-linked entities. 45% of Nifty 500 independent directors have promoter ties (SEBI, 2024), enabling unchecked decisions. 32% of large corporate loans (>₹100 crore) show fund diversion (RBI, 2024). Result: Investors lost ₹4,300 crore in market cap. Employees faced operational paralysis. Public trust eroded. The Solution: Two Innovations for Accountability and stronger corporate governance 1️⃣ Independent Directors Appointed by an Independent Body Issue: Promoter-influenced boards lack objectivity. Fix: A SEBI-regulated panel to allocate directors via sector expertise + randomized selection. Impact: Could have flagged Gensol’s ₹262 crore gap early. 2️⃣ Mandatory Nominee Directors for PSU Loans >₹100 Crore Issue: IREDA/PFC loans misused without oversight. Fix: Nominees with veto power to block suspicious spends (e.g., ₹50 crore routed to shell firms). Impact: IIM-A study shows nominee directors cut fraud by 27%. The Bigger Picture Investors: Lost ₹4,300 crore in market cap in Gensol. Employees: BluSmart’s operational collapse left thousands stranded. Public Trust: Every diverted rupee undermines India’s growth narrative. “Corporate governance is not a compliance exercise – it is the foundation of sustainable value creation.” Let’s transform this moment into a movement for stronger, ethical governance. 💼✨ Your thoughts? How can we collectively drive these reforms forward? ______________________________ CAGlobal - Corporate चाणक्य Professionals: Advocate for ethical frameworks, to embed governance into corporate DNA Integrity is everything, join us in ~50k growing entrepreneurs' community RisingIndia उभरता भारत
Government Contracting Insights
Explore top LinkedIn content from expert professionals.
-
-
𝐓𝐫𝐮𝐬𝐭 𝐢𝐬𝐧’𝐭 𝐛𝐮𝐢𝐥𝐭 𝐢𝐧 𝐜𝐨𝐧𝐭𝐫𝐚𝐜𝐭𝐬. 𝐈𝐭’𝐬 𝐛𝐮𝐢𝐥𝐭 𝐢𝐧 𝐫𝐞𝐥𝐚𝐭𝐢𝐨𝐧𝐬𝐡𝐢𝐩𝐬 𝐚𝐧𝐝 𝐜𝐫𝐞𝐚𝐭𝐢𝐧𝐠 𝐬𝐚𝐟𝐞𝐭𝐲. We once had to shut down four city blocks in downtown Phoenix for a private Macklemore concert. On the surface, it sounds like logistics. In reality, it was about trust. It took a month meeting with city departments, knocking on doors, and listening to city employees who mostly wanted to help the public, get a paycheck and benefits, plus not lose their job. Each had their own concerns: safety, traffic, liability or what would their boss do to them. Instead of pushing my agenda, I focused on their pain points and showed that I understood what mattered to them. After the month of planning, we started at 2:15 the morning of the concert, to set up - they would not let us close the roads, then I convinced them it was okay, after the bars closed. That’s how you move big, complicated projects forward. Not with pressure. Not with shortcuts, instead - by giving people confidence that you see them, hear them, and will protect their interests (if nothing else, that they won’t get fired, their kids will be okay and life will be good). The principle is simple. 𝐈𝐟 𝐩𝐞𝐨𝐩𝐥𝐞 𝐟𝐞𝐞𝐥 𝐬𝐚𝐟𝐞 𝐚𝐧𝐝 𝐫𝐞𝐬𝐩𝐞𝐜𝐭𝐞𝐝, 𝐭𝐡𝐞𝐲’𝐥𝐥 𝐨𝐩𝐞𝐧 𝐝𝐨𝐨𝐫𝐬. 𝐈𝐟 𝐭𝐡𝐞𝐲 𝐟𝐞𝐞𝐥 𝐢𝐠𝐧𝐨𝐫𝐞𝐝 𝐨𝐫 𝐮𝐧𝐬𝐚𝐟𝐞, 𝐭𝐡𝐞𝐲’𝐥𝐥 𝐜𝐥𝐨𝐬𝐞 𝐭𝐡𝐞𝐦. Whether you’re closing a deal, running a campaign, or trying to get four blocks of a city to shut down, the foundation is the same: trust built through listening. What’s one way you’ve built trust in a tough negotiation? #Trust #Negotiation #DealMaking #TILTTheRoom #MediaLaw #Macklemore Christopher Voss Kwame Christian, Esq., M.A. Alexandra Carter Dr. Robert Cialdini Scott Tillema
-
Early in my purchase career, I noticed a pattern. Our team would negotiate hard, close contracts, and move on. On paper—it looked perfect. 📉 Costs were reduced 📊 Reports were clean But something was missing. Suppliers didn’t feel like partners. They were just “vendors.” One day, a critical shipment got delayed. Instead of excuses, the supplier personally called and said: “Don’t worry, I’ll prioritize your delivery. You’ve always treated us fairly.” That moment changed how I saw procurement. It isn’t just about transactions. It’s about trust. Since then, my approach has been: ✅ Build long-term supplier relationships ✅ Focus on transparency, not just negotiation ✅ Treat every purchase as a partnership, not a bargain hunt And the results proved it: ✔️ Faster resolutions during crises ✔️ Better quality without micromanagement ✔️ A resilient supply chain built on mutual respect Management Lesson: In procurement, numbers matter. But people matter more. #Procurement #SupplyChain #Leadership #BusinessRelationships
-
These contracts amount to £15.3bn awarded by the UK government during the ‘Covid pandemic’ “Twenty-eight contracts worth £4.1bn went to firms with known political connections, while 51 worth £4bn went through a "VIP lane" for companies recommended by MPs and peers, a practice the High Court ruled was unlawful. The charity said its analysis also indicated that almost two thirds of high-value contracts to supply items such as masks and protective medical equipment during the pandemic, adding up to a total of £30.7bn, were awarded without any competition. A further eight contracts worth a total of £500m went to suppliers no more than 100 days old – another red flag for corruption. Normal safeguards designed to protect the process of bidding for government contracts from corruption were suspended during the pandemic. The government, led by Boris Johnson, justified this at the time by stressing the need to short-cut the bidding process to accelerate the supply of much-needed items such as personal protective equipment (PPE). But Transparency International UK, a core participant in the Covid-19 inquiry which begins its third module on Monday, said the suspension of normal safeguards was often unjustifiable, costing the public purse billions and eroding trust in political institutions. “As far as we can ascertain, no other country used a system like the UK’s VIP lane in their Covid response. Of a total of £48.1bn of public money spent on private sector contracts related to the Covid-19 pandemic, £14.9bn was written off by the Department of Health & Social Care.” See more here https://t.co/SpY8iMQhFx
-
EPA Workforce Reductions: A Policy Shift with Nationwide Implications US Environmental Protection Agency (EPA) recently informed over 1,100 employees that they could face immediate termination. Many of these professionals were hired to enforce environmental laws, mitigate pollution, and implement federally funded clean energy projects. This workforce reduction raises serious concerns about the future of environmental protection and public health efforts across the country. Here’s what’s at stake: ✅ The EPA distributes over $4 billion in grants annually—funding critical projects such as lead pipe replacement, toxic waste remediation, and clean energy development. A shrinking agency workforce may slow down or halt these initiatives, leaving communities with fewer resources to address pollution and infrastructure challenges. ✅ Environmental justice programs face uncertainty. Many communities, particularly those with limited local resources (typically Red states), rely on federal funding to address disproportionate air and water pollution exposure. A reduction in staffing and resources could make it more difficult for these communities to receive necessary support. ✅ States with smaller environmental budgets (GOP led states) will feel the greatest impact. Many do not have the state-level funding necessary to offset potential losses in federal investment. The ability to maintain water quality, air pollution controls, and land conservation efforts could be significantly affected. ✅ This shift aligns with broader efforts to reconsider funding for key environmental and infrastructure initiatives. Proposed reductions in Inflation Reduction Act (IRA) and Infrastructure Investment and Jobs Act (IIJA) funding may further limit state and local governments’ ability to sustain environmental and clean energy programs. Why does this matter? Because environmental protection and public health are long-term investments that require stable resources. Federal funding plays a crucial role in addressing pollution, mitigating climate risks, and supporting economic development through clean energy and infrastructure projects. Without strong federal support, many communities will struggle to maintain these efforts. #EnvironmentalPolicy #EPA #Sustainability #CleanEnergy
-
Update on Federal government funding in climate: First, the uncertainty around federal support for climate innovation, commercialization, and deployment continues. We're starting to see payments flow to recipients of DOE and DOD grants and contracts, who had previously submitted invoices. We are also starting to see contract terminations for convenience hit recipients, primarily in contexts where DEI/environmental justice was an objective of the grant or contract. Luckily, following federal law, work done until the formal notice of termination is still reimbursable. International programs, especially those under USAID or the USTDA are still suspended, with lmited/no communication with recipients. All of this said, we expect further disruption to what was once a highly dependable source of funding for the climate ecosystem. There is still much to learn about how the Federal Government will treat awarded, but not yet contracted, grants. We also expect future delays in reimbursement as the government sheds talented employees and systems are strained, so founders should take care and prepare for liquidity challenges, either by adjusting spending or sourcing working capital. Enduring Planet will continue to provide founder-friendly financing to any recipient of state or federal grants or contracts, full stop. We've got your back(s). We'll continue to share insights and perspectives on this ecosystem in the coming weeks. A few relevant links below.
-
From Ørsted to Ontario: How Populist Conservatives Undermine Contract Sanctity The stop-work order on Ørsted’s Revolution Wind project is not just about offshore wind. It signals something deeper: contracts and permits in the United States may not be worth the paper they are written on if they collide with ideology. Billions in sunk capital, signed utility agreements, and secured permits were swept aside with a vague claim of “national security.” CleanTechnica article: https://lnkd.in/gzEk_M-9 This is part of a larger pattern. Ontario canceled hundreds of renewable contracts retroactively. Alberta froze approvals and returned with rules designed to stall new projects. Texas nearly imposed retroactive requirements on built wind and solar. Now Washington has joined the list. The implications go far beyond clean energy. If governments can dismantle nearly completed wind farms, they can upend any infrastructure deal. Investors see it clearly: political risk is now baked into the economics. That means higher financing costs, reduced investment, weaker supply chains, and slower progress. This is how capital is burned. Not in markets, but by governments that make contracts contingent on politics. And once trust in the stability of agreements erodes, rebuilding it is far harder than tearing down a turbine.
-
Women in Construction Safety: Contributions, Challenges, and Impact Women are making significant strides in the construction safety field, contributing to the industry’s growth while overcoming unique challenges. Contributions of Women in Construction Safety: 1. Leadership in Safety Management: Women like purity mugo (HSE Manager) and Cecilia N. (HSE Lead) play key roles in shaping safety policies, compliance, and risk management on construction sites. 2. Attention to Detail and Risk Mitigation: Their focus on detail is essential for hazard identification and enforcement of safety standards. 3. Fostering Collaboration: Women emphasize teamwork and engagement, which promotes a cooperative and safer work environment. 4. Promotion of Behavioral Safety: Women encourage proactive safety attitudes, reducing reactive approaches to risk management. Challenges Faced by Women in Construction Safety: 1. Gender Bias: Being underrepresented, women often face unconscious bias regarding their authority in safety roles. 2. Work-Life Balance: The demanding nature of construction projects makes balancing professional and personal commitments difficult. 3. Limited Career Growth: Despite their qualifications, women encounter slower career progression due to fewer mentorship opportunities and gender stereotypes. 4. Harassment and Discrimination: Women frequently deal with sexism and harassment, affecting their confidence and performance on-site. Initiatives for Gender Diversity in Construction: - Mentorship and Networking Programs: These initiatives empower women by offering support and guidance for career advancement. - Gender Diversity Policies: Companies are adopting inclusive policies to create equitable workplaces. - Safe and Inclusive Environments: Efforts are being made to address on-site harassment and ensure equitable access to PPE designed for women. - Education and Training: Encouraging certifications like NEBOSH and ISO 45001 helps women excel in safety management. Impact on Safety and Culture On-Site: - Enhanced Communication: Women’s strong communication skills help convey safety policies more effectively. - Improved Safety Outcomes: Their involvement reduces workplace accidents and fosters innovative safety practices. - Positive Work Environment: Women in leadership create an inclusive and respectful work culture, improving overall morale and safety compliance. Women are reshaping construction safety, and their growing presence promises a safer and more inclusive industry.
-
Without trust, even the best contract fails. I’ve seen it happen. In EPC, we talk a lot about foundations. Steel and concrete hold a solar farm in place. But the real foundation-what keeps the project standing when things get rough-is trust. Between developer and EPC. Between EPC and subcontractor. Between site manager and every person on the ground. Every project starts with a contract. Pages of rights, obligations, scope, timelines. You need it-no question. But let’s be honest: After the ink dries, the contract goes into a drawer. It only comes out when something has already gone wrong. I’ve managed projects across six continents. Different languages, different rules, same pattern: You keep working with the same partners, not because the contract forces you, but because you trust each other. You know they will deliver. You know you will get through the hard parts together. Sounds great, but here’s the reality: - When trust is missing, even a perfect contract can’t save you. Deadlines slip. Problems get hidden. People stop talking. No one takes real ownership-everyone points to the contract and waits. - When trust is there, you solve problems before they get big. You pick up the phone, not the contract. You know the other side will not let you down. You finish, even if it gets messy. Bottom line: Contracts set the frame. Trust gets the job done. For me, every successful project I’ve seen stands on this invisible foundation. Not the paper, but the people. What’s your experience? Where did trust make the difference-or where did its absence sink the project? Contract or trust-what carries your projects? #AndreasBach #SolarEnergy #Renewables #EPC #BESS #Trust #Leadership #ProjectManagement #Construction #Collaboration
-
🚨 Update on Trump's attack on clean power: America does have checks and balances after all. Yesterday, a Trump-appointed judge ruled that the administration unlawfully froze climate and infrastructure grants, ordering an immediate release of funds awarded under the IRA and Bipartisan Infrastructure Law. Why this matters—especially for CSOs, sustainability teams, and energy leaders navigating federal partnerships: 1️⃣ All IRA + IIJA grants must now flow again, not just those named in the lawsuit. 2️⃣ The ruling protects projects across all sectors—from urban forestry to building decarbonization. 3️⃣ The judge called the freeze “neither reasonable nor reasonably explained,” and cited irreparable harm to communities, staff, and momentum. 4️⃣ The court directly challenged the administration’s claimed authority: “Agencies do not have unfettered power to hamstring in perpetuity statutes passed by Congress.” This comes just before a major ruling on EPA’s $20B in climate grants. Legal clarity is coming—and fast. 👉 Action for corporate sustainability leaders: If your org received federal climate funds: re-engage agency contacts now. Restart timelines, scope, and spend plans. If you paused clean power or building upgrades due to grant uncertainty: dust off those models. If you’re downstream of funded projects (e.g. supplier on grid, fleet, or retrofits): expect renewed momentum and demand. The bottom line: the climate funding floodgates are reopening. Don’t be the last in line.