There have been a number of revelations within the outcomes of Capital Market Regulator SEBI investigation in opposition to Jansol Engineering Restricted. Primarily based on these outcomes, SEBI has made a number of allegations in opposition to the corporate and its promoters, one among which is to divert mortgage cash. SEBI’s findings states that part of the diverted cash was arrange at Third Unicorn, a former co-founder of Fintech agency, former co-founder and shark tank India, at Third Unicorn of Ashnir Grover. SEEB accused the trades to divert cash on Jansol engineering, misuse of debt, and use the trades of their shares. Is. Jansol is alleged to have diverted greater than Rs 200 crore for EV procurement. Promoters of the corporate Anmol Singh Jaggi and Puneet Singh Jaggi used the mortgage taken for his or her private curiosity to purchase new electrical autos for trip Heling Startup Blossom. In keeping with the principles, Jansol needed to contribute 20% from his personal fund, resulting in the full anticipated funding for the acquisition of 6,400 EV to Rs 829.86 crore. The interim order of SEBI states that however Jansol purchased 4,704 EVs, which value Rs 567.73 crore. On this means, there is no such thing as a account of Rs 262.13 crore. Primarily based on the Fund Path and Account Stability, SEBI discovered that Rs 96.69 crore was diverted to the promoter and promoters of Jansol Engineering, ignoring the ultimate use of the mortgage sanctioned by PFC. 37.5 crore of loans of Rs 171.30 crore taken from EREDA by Jansol EV Lease Non-public Restricted (a subsidiary of Jansol Engineering) had been transferred to Anmol Singh Jaggi. 424.14 million from Holtime Member Ashwini Bhatia, who went to the entity referred to as Velere, was given on 15 April, 2025 from the interim order, based on the interim order given by Ashwini Bhatia of 424.14 million service. An entity Veere acquired Rs 424.14 crore from the corporate throughout FY 2023 and FY 2024. Out of this, Rs 382.84 crore was transferred to numerous entities, out of which Rs 246.07 crore was given to a associated or related events. As well as, the order alleged that Rs 25.76 crore was given to Jansol promoter Anmol Singh Jaggi and his members of the family and used for private bills. An analogous switch of Rs 2.98 crore was achieved to Mugdha Kaur Jaggi, who has been described because the spouse of Anmol Singh Jaggi within the order. Mugdha can be a founding member of the Non for Revenue Charity Belief ‘Param Seva Basis’ related to the Jansol Group. The belief has been launched by Anmol Singh Jaggi and his household. Other than this 50 lakhs put in within the startup of Ashuner Grover, SEBI additionally discovered that Anmol Singh Jaggi had invested Rs 50 lakh in Ashneer Grover’s Startup Third Unicorn Non-public Restricted. Third Unicorn was began by Ashnir Grover in affiliation with Madhuri Jain Grover and Aseem Ghawari. SEBI’s order exhibits that Jaggi purchased 2,000 shares within the startup and remained a shareholder until March 31, 2024. Within the different personal bills incurred by Jensol engineering cash, Rs 26 lakh for golf kits, Rs 17.28 lakh for golf kits, Rs 17.28 lakh for jewelery or equipment, fee of fee and fee of bank card arrears. Accusation of disturbances, the primary sight investigation discovered that Jansol and her promoters/promoters had additionally funded Velre for buying and selling in Jansol shares. It violates part 67 of the Firms Act. This prevents part corporations from offering monetary help to purchase their very own shares or take monetary help to subscribe to their very own points till the lower in share capital is permitted. That is to stop corporations from growing the value of their inventory in a synthetic method. SEBI additionally present in his order that Jansol had offered funds to Jansol Ventures Non-public Restricted (a promoter of Jansol) for subscription of 97,445 fairness shares of Jansol by way of layered transactions.
