ED detains BluSmart’s Puneet Jaggi

NEW DELHI: Ahead of formally launching a money-laundering investigation, the Enforcement Directorate Thursday detained Puneet Jaggi, one of many promoters of Gensol Engineering, which operated BluSmart cab providers, to query him on alleged Foreign Exchange Management Act violations. The probe is to establish if Gensol diverted funds for buying international alternate.
While Puneet was picked up from a resort in Delhi throughout searches performed by the company at a number of locations in Delhi, Gurgaon and Ahmedabad, his brother and co-promoter Anmol Jaggi is believed to be in another country and can quickly be summoned for questioning.
Jaggi brothers earlier barred from working in share market
The Jaggi brothers had been earlier barred from working within the share market after regulator Sebi discovered the promoters had diverted firm funds for private beneficial properties, together with shopping for property in Gurgaon price over Rs 45 crore for private use.
ED is awaiting an FIR, more likely to be registered in opposition to the Jaggi brothers and their firm, to formally register a probe underneath PMLA, sources mentioned. When reached for touch upon Thursday night, Gensol mentioned their places of work had been closed for the day.