Gensol promoter Anmol Jaggi invested in Ashneer Grover’s startup using diverted funds: Sebi interim order

April 16, 2025

, By The Economic Times

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BluSmart cofounder Anmol Singh Jaggi allegedly transferred funds worth Rs 25.76 crore from Gensol Engineering to family members and other related entities, including Ashneer Grover‘s startup Third Unicorn, apart from using some for personal expenses.

An order issued by market regulator Securities and Exchange Board of India (Sebi) on Tuesday detailed various examples of diverting funds that Gensol raised to procure electric vehicles (EVs). A list in the order shows Jaggi transferred Rs 6 crore to his mother, Rs 2 crore to his wife, and Rs 50 lakh to…

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Gensol promoter Anmol Jaggi invested in Ashneer Grover’s startup using diverted funds: Sebi interim order

April 16, 2025

, Published By The Economic Times

BluSmart cofounder Anmol Singh Jaggi allegedly transferred funds worth Rs 25.76 crore from Gensol Engineering to family members and other related entities, including Ashneer Grover‘s startup Third Unicorn, apart from using some for personal expenses.

An order issued by market regulator Securities and Exchange Board of India (Sebi) on Tuesday detailed various examples of diverting funds that Gensol raised to procure electric vehicles (EVs). A list in the order shows Jaggi transferred Rs 6 crore to his mother, Rs 2 crore to his wife, and Rs 50 lakh to…

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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Previous News

Frontend Gets Smarter: AI’s JavaScript Revolution

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The US wants to break up Google and Meta: That could be hard

The Economic Times

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