The Directorate of Enforcement (ED) has carried out a search and seizure operation on the premises of the Gensol Engineering in Ahmedabad and Gurgaon, the corporate said in a submitting with the inventory exchanges, Monday.
“The Search and Seizure operation was carried out by the Directorate of Enforcement at Ahmedabad, and Gurgaon premises of the Firm. The premises had been searched by the Directorate of Enforcement. Some paperwork, digital units and others monetary information have been seized,” the Ahmedabad-based firm said, including that the operation was carried out beneath the provisions of the Overseas Change Administration Act, 1999 .
The promoters of Gensol Engineering — Anmol Singh Jaggi and Puneet Singh Jaggi — are at present beneath the scrutiny of market regulator SEBI over allegations of diversion of funds meant for buy of electrical automobiles. “The Firm is in the method of taking applicable authorized measures in respect of the Search and Seizure operation by the Directorate of Enforcement,” the corporate added.
Revealed on April 28, 2025
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