Bad news for Deepika Padukone, Sanjeev Bajaj as they may lose huge amount of money due to…
SEBI has ordered a forensic investigation against Gensol Engineering, a company involved in green energy business, and has banned its promoters brothers Anmol Jaggi and Puneet Jaggi from the stock market.
BluSmart, a company providing electrical cab carrier, is in worry as it had to conclude down its services and products after SEBI’s circulation within the mortgage fraud case. SEBI has ordered a forensic investigation in opposition to Gensol Engineering, a company excited about inexperienced energy enterprise, and has banned its promoters brothers Anmol Jaggi and Puneet Jaggi from the inventory market. They are accused of misappropriating company funds. They sold a luxurious dwelling in Gurugram and dear golf equipment with the money given to the company to aquire a automobile. The golf equipment was price Rs 26 lakh. Gensol Engineering stale to hire electrical autos to BluSmart. There were monetary relatives between the 2 companies.
In accordance to a document by Money Alter, Bengaluru-based company BluSmart had raised Rs 4,100 crore from buyers. Many celebrities possess invested in it. These embody dilapidated Team India captain Mahendra Singh Dhoni , actress Deepika Padukone, properly-identified businessman Sanjeev Bajaj and BharatPe co-founder Ashneer Grover. Deepika Padukone was even handed one of the early buyers within the company. Her family place of enterprise invested $3 million in this company within the year 2019. It was an angel funding spherical.
Within the the same spherical, Bajaj Capital Managing Director Sanjeev Bajaj additionally invested $3 million. JITO Angel Network and Rajat Gupta additionally invested in BluSmart. Closing year, the company raised $24 million in pre-sequence B funding. Dhoni’s family place of enterprise, ReNew Energy’s Sumant Sinha and a Swiss asset administration company participated in it. Gensol additionally took a mortgage of Rs 978 crore from IREDA and Energy Finance Company (PFC) between 2021 and 2024. Most of this was to aquire 6,400 electrical autos.
Whose investment
Within the the same spherical, Bajaj Capital Managing Director Sanjeev Bajaj additionally invested $3 million. JITO Angel Network and Rajat Gupta additionally invested in BluSmart. Closing year, the company raised $24 million in pre-sequence B funding. Dhoni’s family place of enterprise, ReNew Energy’s Sumant Sinha and a Swiss asset administration company participated in it. Gensol additionally took a mortgage of Rs 978 crore from IREDA and Energy Finance Company (PFC) between 2021 and 2024. Most of this was to aquire 6,400 electrical autos.
In accordance to Deepest Circle info, Jaggi Brothers retain about 33% stake in BlueSmart. Equally, BP Ventures, an investor within the Collection A spherical, holds 14.3% stake within the company. Though BlueSmart is no longer a proper subsidiary of Gensol Engineering, SEBI’s investigation has published that there is a deep monetary relationship between the 2 companies. Transactions price more than Rs 148 crore took space between the subsidiaries of Gensol and BlueSmart. This clearly reveals how solid the connection is between the 2.
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