Feed aggregator
Type 5 Diabetes: The new health threat affecting millions of kids with this condition, here’s what every p - The Economic Times
- Type 5 Diabetes: The new health threat affecting millions of kids with this condition, here’s what every p The Economic Times
- Type 5 diabetes is the new threat emerging in malnourished kids: What parents must know Times of India
- Malnutrition-Related Diabetes Officially Named ‘Type 5’ Medscape
- Type 5 diabetes formally recognised | It is said to be more common than TB | Inshorts Inshorts
- What’s Type 5 diabetes that has been recognised after decades all about? The Indian Express
Trump hikes tariffs on Chinese imports to 245%: White House - The Tribune
- Trump hikes tariffs on Chinese imports to 245%: White House The Tribune
- US Says China Faces Up To 245% Tariff On Imports Due To Retaliatory Action NDTV
- Tariffs up to 245% on China: Trump's latest salvo in ongoing trade war Hindustan Times
- US-China tariff: 245% on needles-syringes, 173% on batteries to 20% on laptops -- here's real breakdown Business Today
- China faces up to 245% tariffs on imports to the US: White House Fact sheet The Economic Times
Redmi A5 launched: All details about the new budget mobile under ₹10000 - Hindustan Times
- Redmi A5 launched: All details about the new budget mobile under ₹10000 Hindustan Times
- Redmi A5 with 5,200 mAh battery and 32MP camera launched: Price, offers and more Times of India
- Redmi A5 Price: Redmi A5 with 6.8-inch HD+ display launched in India, price starts at Rs 6,599 Moneycontrol
- Xiaomi launches Redmi A5 with Unisoc processor for entry segment buyers in India The Hindu
- Redmi unveils iPhone 16 look-alike smartphone priced at just Rs 6,499 India TV News
US slaps 245% retaliatory tariffs on Chinese goods as trade war intensifies - Times of India
- US slaps 245% retaliatory tariffs on Chinese goods as trade war intensifies Times of India
- Trump Tariffs Live Updates: China says 'not afraid to fight' trade war with US Times of India
- China now faces 245% tariffs on US imports after retaliation amid trade war The Indian Express
- US Says China Faces Up To 245% Tariff On Imports Due To Retaliatory Action NDTV
- China faces up to 245% tariffs on imports, says White House, Beijing says 'Ask US for specific figures' India Today
Relief for Kerala CM's daughter Veena Vijayan as Kerala High Court orders status quo in SFIO case - Bar and Bench
- Relief for Kerala CM's daughter Veena Vijayan as Kerala High Court orders status quo in SFIO case Bar and Bench
- HC issues notices to Chief Minister and his daughter The Hindu
- Kerala High Court Directs Centre To Submit List Of Persons Named In Order Of Interim Settlement Board In... Live Law
- Maintain status quo regarding proceedings on Serious Fraud Investigation Office report against Cochin Min Times of India
- HC issues notice to Kerala CM and daughter in CMRL-Exalogic case Mathrubhumi English
New Record! Yuzvendra Chahal creates history, equals Sunil Narine for this massive IPL milestone - Times of India
- New Record! Yuzvendra Chahal creates history, equals Sunil Narine for this massive IPL milestone Times of India
- "The way he performed today was really, really commendable": Nehal Wadhera praises Yuzvendra Chahal after his match-winning spell Hindustan Times
- "I Am 50, Don't Need More Games Like This": Ricky Ponting's Epic Take On PBKS' Historic Win vs KKR NDTV Sports
- Wicket was good, we didn't have game awareness - Rahane Cricbuzz.com
- Ajinkya Rahane's 'faltu batting' quip to Shreyas Iyer in Marathi during customary handshake goes viral - WATCH India TV News
HP launches OMEN MAX 16 gaming laptop with AI performance enhancement tools - Business Standard
- HP launches OMEN MAX 16 gaming laptop with AI performance enhancement tools Business Standard
- HP launches Omen Max 16 gaming laptop with Intel and Nvidia processors in India The Hindu
- HP Omen Max 16 launched in India with Intel Ultra 9 and Nvidia RTX 5080, AI-powered tools Business Today
- HP launches OMEN MAX 16 gaming laptop in India with AI optimisation: Check specs, price here digit.in
- OMEN MAX 16: HP launches AI-powered high-performance gaming laptop in India connectedtoindia.com
In middle of IPL 2025, BAD news for Shah Rukh Khan and Juhi Chawla as these star KKR players fails..., their names are... - India.Com
- In middle of IPL 2025, BAD news for Shah Rukh Khan and Juhi Chawla as these star KKR players fails..., their names are... India.Com
- Narine and Nortje's bats fail the gauge test in PBKS vs KKR game ESPNcricinfo
- Why did the Umpire ask Nortje to change his bat against Punjab Kings? Times of India
- Andre Russell, Sunil Narine, and Anrich Nortje’s bats fail the gauge test The Indian Express
- Why KKR’s big hitters had to swap bats mid-match vs PBKS: The IPL on-field gauge test explained! Sportstar
Motorola Edge 60 Stylus: Launch Date, Features, Specifications, Price, and More - HerZindagi
- Motorola Edge 60 Stylus: Launch Date, Features, Specifications, Price, and More HerZindagi
- Motorola Edge 60 Stylus: 10 features to know about cheapest phone with in-built stylus Moneycontrol
- OML conceptualises and executes a multi-platform campaign for the Moto Edge 60 Fusion launch on Flipkart that gets the internet talking afaqs!
- New Moto Edge 60 Stylus: launch date, price, features, and specifications financialexpress.com
- Motorola Edge 60 Fusion Review: A phone that ticks nearly all the boxes The Hindu
Habits that keeps Virat Kohli fit and healthy - Times of India
Habits that keeps Virat Kohli fit and healthy Times of India
Chilling CCTV footage shows Haryana YouTuber, lover carrying husband’s body on bike after murder - Times of India
- Chilling CCTV footage shows Haryana YouTuber, lover carrying husband’s body on bike after murder Times of India
- Man Saw YouTuber Wife In Intimate Act With Lover, They Choked Him To Death NDTV
- Haryana YouTuber kills husband after being caught with lover, dumps body in drain Hindustan Times
- Haryana YouTuber wife kills husband with lover's help after being caught; body dumped in drain Moneycontrol
- YouTuber kills husband with help of lover, saw them in intimate act India Today
Temporary prisons for officers: Top court blasts Telangana over tree felling - India Today
- Temporary prisons for officers: Top court blasts Telangana over tree felling India Today
- We will go out of the way to protect environment: Supreme Court halts tree felling in Kancha Gachibowli Bar and Bench
- SC questions Telangana govt over 'hurry' to fell trees near Hyderabad University Times of India
- UoH Land Row: Revanth Reddy Slams PM Modi for Falling for 'AI Propaganda' Deccan Herald
- PM Modi perturbed with Cong. govt in Telangana: Revanth Reddy The Hindu
Jaat Box Office Collection Day 6: Hits A Half Century, Just 1.09 Crores Away From Becoming Sunny Deol’s 3rd Highest-Grosser! - Koimoi
- Jaat Box Office Collection Day 6: Hits A Half Century, Just 1.09 Crores Away From Becoming Sunny Deol’s 3rd Highest-Grosser! Koimoi
- Jaat Box Office Collection Day 5: First Monday Result Of Sunny Deol's Film NDTV
- ‘Jaat’ crosses Rs 50-crore mark in India, ‘Good Bad Ugly’ hits Rs 100-crore milestone Telegraph India
- Jaat box office collection Day 6: Sunny Deol starrer enters Rs 50 crore club financialexpress.com
- Jaat Box Office Collection Day 5: Gadar 2 dreams gone, Sunny Deol’s action film hasn’t hit the Rs 50 crore mark yet The Indian Express
9 tactics Anmol Singh Jaggi used to siphon money from Gensol
The Securities and Exchange Board of India (SEBI) on Tuesday issued an interim order against solar EPC company Gensol Engineering and its promoters, Anmol Singh Jaggi and Puneet Singh Jaggi, accusing them of misappropriating hundreds of crores in term loans sanctioned for the purchase of electric vehicles.SEBI’s order lays bare how Anmol Singh Jaggi, the public face of India’s clean energy ambitions, used Gensol Engineering’s soaring profile to orchestrate a series of complex financial diversions—misusing institutional loans, laundering funds through related entities, and financing a billionaire lifestyle with shareholder money.According to the 29-page order issued on April 15, 2025, SEBI said: “What has been witnessed in the present matter is a complete breakdown of internal controls and corporate governance norms in Gensol, a listed company. The promoters were running a listed public company as if it were a propriety firm.”Here are nine distinct ways the regulator says Anmol Singh Jaggi and his associates diverted corporate funds:1. Diverting EV loans for luxury real estateRs 50 crore was transferred from Go-Auto to Capbridge Ventures LLP—where Anmol and Puneet are designated partners. Capbridge then paid Rs 42.94 crore to DLF for a luxury apartment in The Camellias, Gurugram, originally booked by Anmol’s mother. The booking advance of Rs 5 crore was also funded by Gensol.Gensol received Rs 71.39 crore from IREDA on September 30, 2022, which was meant for procuring EVs. That same day, Gensol transferred Rs 93.88 crore (including promoter contribution) to Go-Auto, its vehicle supplier. From there, Rs 50 crore was transferred to Capbridge Ventures LLP, a related party, where Anmol and Puneet Singh Jaggi are designated partners.“Go-Auto, on the same day, transferred Rs. 50 Crore to Capbridge... On October 06, 2022, Capbridge transferred Rs. 42.94 Crore to DLF Limited... for the purchase of an apartment in the project The Camellias.”2. Inflated EV purchase claims and unaccounted fundsBetween FY22 and FY24, Gensol secured Rs 663.89 crore in term loans from IREDA and PFC for the procurement of 6,400 electric vehicles.“Gensol... acknowledged that it had procured only 4,704 electric vehicles... for a total consideration of Rs. 567.73 Crore,” according to the SEBI order.This left Rs 96.16 crore from the loans unexplained. But factoring in the company’s required equity contribution of 20%, SEBI observed:“An amount of Rs. 262.13 Crore... remains unaccounted, even though more than a year has passed since the Company availed the last tranche of the... financing,” said SEBI.3. Circular fund flows back to promoter entitiesFrom another IREDA loan of Rs 43.68 crore in February 2023, SEBI traced Rs 40 crore being transferred to Wellray, a connected entity, which then moved Rs 29.5 crore back to Gensol and Rs 3.9 crore to Prescinto—both related parties.“Wellray made the following outward transfers... Rs. 29.50 Crore... to Gensol... Rs. 3.90 Crore... to Prescinto...,” according to the SEBI order.SEBI added that Rs 50 lakh from this was also used by Wellray to trade in Gensol’s shares.4. Direct cash benefit to Anmol Singh JaggiRs 37.5 crore from a Rs 171.30 crore loan sanctioned by IREDA to Gensol EV Lease (a Gensol subsidiary) was ultimately transferred directly to Anmol Singh Jaggi.“Rs. 37.5 Crore out of the loan amount... was ultimately transferred to Anmol Singh Jaggi,” according to the SEBI order.5. Re-routing through Gensol Consultant and CapbridgeA Rs 117.47 crore PFC loan disbursed in September 2023 was split between Capbridge (Rs 50.04 crore) and Gensol Consultants (Rs 46.65 crore), both linked to the Jaggis. Capbridge then sent Rs 40 crore to Gensol Ventures Pvt Ltd, another promoter entity.“Based on the fund trail... it is prima facie observed that Rs. 96.69 Crore was diverted to promoter and promoter-linked entities...,” the order said.6. Using Wellray as a vehicle for fund movementOver FY23 and FY24, Gensol transferred Rs 424.14 crore to Wellray. Of this, Rs 246.07 crore was disbursed to related parties and individuals, including Rs 25.76 crore to Anmol and Rs 13.55 crore to Puneet Singh Jaggi.“Wellray has transferred funds amounting to Rs. 39.31 Crore to Anmol Singh Jaggi and Puneet Singh Jaggi...,” SEBI said.7. Personal luxury spending with diverted fundsSEBI’s analysis of Anmol Singh Jaggi’s bank accounts showed payments for foreign currency (Rs 1.86 crore), luxury brands (Titan, TaylorMade), personal travel, and credit card bills. Payments also went to family members and investments in companies he held shares in.“Majority of the funds... were transferred to other related parties, family members or utilized for personal expenses.” said SEBI.For example, Rs 10.63 crore was transferred to Gensol Ventures Pvt Ltd, Rs 6.20 crore to his mother, Rs 2.98 crore to his wife, Rs 26 lakh to TaylorMade for a golf set, and Rs 17.28 lakh to Titan, reflecting a clear pattern of personal expenditure using corporate funds.8. Backdoor financing of preferential allotmentOn September 26, 2022, Gensol Ventures Pvt Ltd subscribed to Rs 10.09 crore worth of shares in a preferential issue. SEBI found that the money had come from Anmol and Puneet Singh Jaggi, who themselves received it from Wellray—funded by Gensol.“Gensol had provided funds, through layered transactions, to Gensol Ventures... for subscribing to 97,445 equity shares...” said SEBI.9. Stock price manipulation through related-party tradingWellray, funded by Gensol and affiliates, traded almost exclusively in Gensol shares, buying and selling over Rs 338 crore worth of stock between November 2022 and November 2024.“Wellray predominately traded in the scrip of Gensol Engineering Limited (99% of total trade value)... funded by Gensol and its promoters/promoter-related entities,” said SEBI.What SEBI has done so farSEBI has barred Anmol and Puneet Singh Jaggi from acting as directors or KMPs in Gensol and from accessing the securities market. It also suspended Gensol’s planned stock split and ordered a forensic audit.“The Company’s funds were routed to related parties and used for unconnected expenses, as if the Company’s funds were promoters’ piggy bank.”What’s nextThe forensic auditor appointed by SEBI will submit its findings within six months. Meanwhile, investors have been cautioned, and exchanges instructed to halt corporate actions.The regulator’s interim order concludes:“The internal controls at Gensol appear to be loose and through the quick layering of transactions, funds have seamlessly flowed to multiple related entities/individuals... reflecting a culture of weak internal control.”Also read | Inside details: How Gensol promoter bought luxury DLF Camellias apartment in Gurgaon with 'diverted funds'(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
Categories: Business News
'I'm almost like an activist now': Robert Vadra appears before ED on day 2 over Haryana land deal - Times of India
- 'I'm almost like an activist now': Robert Vadra appears before ED on day 2 over Haryana land deal Times of India
- Priyanka Gandhi Drops Off Robert Vadra On Day 2 At Probe Agency ED Office NDTV
- 'Nothing to hide': Robert Vadra after ED questioning in Haryana land deal Times of India
- 'Kisi se darte nahi': Wife Priyanka Gandhi by his side, Robert Vadra faces Round 2 of ED grilling Hindustan Times
- ‘Truth will prevail’: Robert Vadra appears before ED on day 2 of Haryana land deal case The Indian Express
Meet GI 410 b: Newly discovered puffy sub-Neptune planet orbiting Sun-like star - Moneycontrol
- Meet GI 410 b: Newly discovered puffy sub-Neptune planet orbiting Sun-like star Moneycontrol
- Scientists spot sub-Neptune planet orbiting nearby star using smart technique India TV News
- A sub-neptune detected around a star in the solar neighbourhood: interview with Étienne Artigau Institut Trottier de recherche sur les exoplanètes
- New sub-Neptune exoplanet orbiting nearby star detected Phys.org
- New Sub-Neptune Exoplanet Discovered Near Earth Observer Voice
Pages
