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