NEW DELHI: Gensol Engineering Ltd co-promoter Puneet Jaggi advised a Delhi court docket on Tuesday that he was not concerned within the day-to-day affairs of the corporate, which is being investigated by a number of companies, and claimed his elder brother Anmol, at present in Dubai, made all of the administration selections, officers conversant in…
New Delhi: The Enforcement Directorate (ED) has detained BluSmart co-founder Puneet Jaggi from a Delhi resort, after the company carried out raids in a case associated to Gensol Engineering Ltd. The raids have been carried out at firm’s workplaces in Delhi, Gurugram, and Ahmedabad below the International Trade Administration Act (FEMA). The ED is investigating…
Story up to now: Touted as a ‘one-stop store for all issues associated to solar energy’, Gensol Engineering Ltd noticed its shares plummet by 90% in April this yr from their 52-week excessive of ₹1125 in June 24, 2024. The autumn adopted after India’s regulatory physique, Securities and Alternate Board of India (SEBI), discovered alarming…
Markets regulator Sebi has stated it discovered “no manufacturing exercise” at Gensol Engineering’s electrical car (EV) plant in Pune with solely 2-3 labourers current when a Nationwide Inventory Alternate (NSE) official visited the positioning. SEBI Bhavan at BKC Bandra, in Mumbai.(Vijay Bate/HT photograph) These revelations have been a part of markets regulator Sebi’s interim order…
New Delhi: BluSmart, the fast-rising cab firm with an all-electric fleet, has began suspending its operations, leaving 1000’s of customers in cities like Delhi, Bengaluru and Mumbai, in a flap. The service abruptly stopped working following a Securities and Change Board of India (SEBI) order towards its promoters in a mortgage fraud case. BluSmart could…
Gensol Engineering, a number one participant in India’s clean-tech revolution, is now beneath regulatory scrutiny for monetary irregularities and malpractices. The Securities and Alternate Board of India (SEBI) has barred its promoters – Anmol Singh Jaggi and Puneet Singh Jaggi – from the securities market. The motion follows allegations that the duo diverted funds meant…
In July 2024 EV cab service BluSmart raised Rs 200 crore in funding from new traders like ex-India cricket staff captain MS Dhoni and Responsability Investments, a personal banking agency from Switzerland. That spherical took whole funding since December 2023 to round Rs 710 crore. It additionally marked the completion of the Gurugram-based firm’s pre-Sequence…
New Delhi: India’s market regulator Securities and Alternate Board of India (SEBI) has handed an interim order barring Gensol Engineering Restricted and its promoters (additionally co-founders BluSmart) Anmol Singh Jaggi and Puneet Singh Jaggi from accessing the securities market and halted Gensol’s proposed inventory break up. The promoter brothers have now stepped down as the…
