The Enforcement Directorate (ED) is reportedly planning to question Anmol and Puneet Singh Jaggi, promoters of Gensol Engineering, as part of its ongoing investigation into the Mahadev Book illegal betting app case.

According to a report by The Economic Times, while the Jaggi brothers have not been formally summoned yet, the ED has recently frozen over 500,000 shares of Gensol Engineering. Investigators suspect these shares were involved in artificial price manipulation, potentially tied to Zenith Multi Trading DMCC, a Dubai-based company allegedly linked to Mahadev scam accused Hari Shankar Tibrewal.

Officials believe that tainted funds from the Mahadev app were funneled into Gensol Engineering via foreign portfolio investment (FPI) routes, and the investigation will determine whether the Jaggi brothers had knowledge of this activity.

The Mahadev Online Book app, blocked by the Ministry of Electronics and IT in 2023, was at the center of one of India’s largest illegal betting operations, allegedly defrauding investors of nearly ₹20,000 crore.

The Enforcement Directorate (ED) is reportedly planning to question Anmol and Puneet Singh Jaggi, promoters of Gensol Engineering, as part of its ongoing investigation into the Mahadev Book illegal betting app case.

According to a report by The Economic Times, while the Jaggi brothers have not been formally summoned yet, the ED has recently frozen over 500,000 shares of Gensol Engineering. Investigators suspect these shares were involved in artificial price manipulation, potentially tied to Zenith Multi Trading DMCC, a Dubai-based company allegedly linked to Mahadev scam accused Hari Shankar Tibrewal.

Officials believe that tainted funds from the Mahadev app were funneled into Gensol Engineering via foreign portfolio investment (FPI) routes, and the investigation will determine whether the Jaggi brothers had knowledge of this activity.

The Mahadev Online Book app, blocked by the Ministry of Electronics and IT in 2023, was at the center of one of India’s largest illegal betting operations, allegedly defrauding investors of nearly ₹20,000 crore.