From Renewable Stars to Financial Scandal: The Jaggi Brothers' Downfall

Once hailed as pioneers in renewable energy, Anmol and Puneet Singh Jaggi face allegations of financial misconduct. SEBI's investigation into their ventures, Gensol Engineering and BluSmart Mobility, revealed fund siphoning and corporate governance neglect. This led to a market ban amid substantial financial irregularities.

The Jaggi brothers, once shining-promises in India's renewable sector, now find themselves engulfed in allegations of financial misconduct. A SEBI investigation revealed financial improprieties, leading to a ban on accessing securities markets.

Anmol and Puneet Singh Jaggi spearheaded Gensol Engineering, rapidly growing the firm from Rs 61 crore in FY17 to Rs 1,152 crore in FY24. Yet, allegations of fund diversion for personal gains overshadowed their success.

Investigations revealed misuse of loans and manipulation of share prices, involving intricacies with credit ratings. These acts now question the firm's integrity, casting doubt over its past achievements and future viability.

(With inputs from agencies.)