The CBI has registered a case against Gensol Engineering Ltd and the founders of BluSmart EV taxi service, Anmol Singh Jaggi and Puneet Singh Jaggi, over causing alleged loss of over Rs 672 crore to IREDA, officials said Wednesday.
The action comes on a complaint filed by The Indian Renewable Development Agency (IREDA), which had alleged that it extended loans to Gensol Engineering Limited and its subsidiary, Gensol EV Lease Limited, for procuring Electric Vehicles for the BluSmart EV ride-hailing service, the FIR said.
No immediate reaction was available from the companies or other accused persons.
It alleged that funds were misappropriated and diverted for purposes other than those they were sanctioned for, resulting in a loss of Rs 453.77 crore on account of Gensol Engineering Limited and Rs 218.97 crore on account of Gensol EV Lease Limited, excluding interest and other applicable charges.
Based on the complaint, the CBI registered a case against Gensol Engineering and its …
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