ED detains BluSmart co-founder Puneet Jaggi in FEMA case
Carries search at company’s offices in Delhi, Gurugram and Ahmedabad
Anmol Singh Jaggi and Puneet Singh Jaggi
New Delhi: The Enforcement Directorate (ED) has detained BluSmart co-founder Puneet Jaggi from a Delhi hotel, after the agency conducted raids in a case related to Gensol Engineering Ltd.
Meanwhile, the ED has asked the Bureau of Immigration to issue a look-out circular against Puneet Singh Jaggi and Anmol Singh Jaggi, the promoters of Gensol Engineering Ltd, in connection with an investigation into the diversion of funds from the scam-hit company, reports said on Friday.
The raids were conducted at company’s offices in Delhi, Gurugram, and Ahmedabad under the Foreign Exchange Management Act (FEMA).
The ED is investigating Gensol promoter brothers Anmol Singh Jaggi and Puneet Singh Jaggi after a SEBI report accused them of financial irregularities, corporate misgovernance and fund diversion.
Gensol was yet to issue a statement
Earlier, government-owned Power Finance Corporation Ltd (PFC) filed a complaint with the Delhi police against Jaggi brothers-promoted Gensol Engineering Ltd for allegedly filing false documents to take loans for buying electric vehicles (EVs).
