puneet singh jaggi

Anmol Singh Jaggi and puneet singh jaggi, promoters of BluSmart Mobility and Gensol Engineering, face accusations of diverting loan funds for personal use, including luxury real estate. SEBI has barred Anmol Singh Jaggi from key positions and market access due to alleged fund misuse and governance failures at Gensol Engineering. The company's stock price has significantly declined following these revelations.

BluSmart, the electric car service operating in Delhi-NCR, Bangalore, and Mumbai, faced booking disruptions on Wednesday, leaving many passengers stranded. This comes as BluSmart's co-founder, Anmol Singh Jaggi, and Gensol Engineering are under scrutiny by SEBI for alleged fund diversion and governance lapses.

Sebi's investigation reveals Gensol Engineering promoters, Anmol and Puneet Jaggi, diverted company funds for personal enrichment, including luxury purchases and stock manipulation. They misused loans, forged documents, and misled regulators. Funds were used to buy a luxury flat and inflate Gensol's stock price through artificial trading.

BluSmart, Gensol's EV ride-hailing platform, has paused new bookings amid operational restructuring, shifting its fleet to Uber. SEBI revealed Gensol promoters diverted funds meant for EV procurement to purchase a luxury apartment. The investigation highlighted fund transfers from Gensol routed back through related entities, and BluSmart has reportedly delayed salary payments.

Gensol Engineering's shares plummeted after SEBI barred the company and its promoters, Anmol Singh Jaggi and puneet singh jaggi, from the securities market due to fund diversion allegations and corporate governance lapses. SEBI's investigation revealed forged documents and misleading statements to rating agencies and lenders.

BluSmart, the all-electric cab service, has abruptly stopped operating in Delhi-NCR and Bengaluru. Users are facing commuting problems. Drivers are also affected by this sudden closure. The shutdown follows a Sebi ban on BluSmart's co-founder Anmol Singh Jaggi and his brother puneet singh jaggi. The ban is due to alleged fund misappropriation. Customers are worried about refunds.

Ashneer Grover, BharatPe's co-founder, claims to be a 'victim' after SEBI's action against Gensol Engineering and BluSmart's operational halt. Grover invested ₹1.5 crore in BluSmart and ₹25 lakh in Matrix. He clarified he has no operational role and offered to reveal his financial details to prove legitimacy.

BluSmart's ties with Gensol Engineering, promoted by Anmol and Pramod Jaggi, may end up being too much to bear. A deep dive into how the Jaggi brothers allegedly diverted hundreds of crores that were meant for EV purchases for personal use

BluSmart, the EV ride-hailing service, abruptly suspended operations in Delhi-NCR, Mumbai, and Bengaluru, leaving commuters stranded and drivers in limbo. This disruption follows regulatory action by SEBI against BluSmart's promoter company, Gensol Engineering, due to alleged fund diversions and governance lapses.

Gensol’s aggressive growth strategy in green business encountered harsh realities, compounded by corporate governance issues. As a result, sister concern BluSmart’s clean mobility ambitions are now in jeopardy

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