Delhi, : The purchase of a magnificent apartment worth Rs 43 crore in The Camelias, a very special area in Gurugram, is located on a large golf course. A premium golf set worth Rs 26 lakh was purchased from the American company Taylormade. It is the story of Gaxol Engineering founders Anmol Singh Jaggi and Puneet Singh Jaggi, which is about an almost vacant factory in Pune hundreds of kilometers away, in which the accounts of his mother and relatives were transferred to the accounts of more than Rs 11 crore.
262 crore was used in this way from the loan received for purchasing electric vehicles for Blussmart EV taxi service. The investigation by the stock market regulator SEBI has shown that this could be the biggest scam ever. SEBI has said that some part of these funds was also used by promoters for private expenses. After obtaining a loan installment from IRDA in 2022, Jansol transferred a large part of it to Go-Auto.
Who later transferred it to Capabridge. Capbridge is a registered company of Jansol. After this, the company transferred Rs 42.94 crore to real estate company DLF. When SEBI asked for details from DLF, it was found that this amount was given to buy apartments in Gurugram’s super luxury project The Camelias. The order of SEBI also mentions Welfre Solar Industries, a company related to Jansol. It was one of the organizations that received funds by Jansol. It is worth noting that Jaggi Brothers were the first director in Welfre. SEBI came to know in a bank statement that Jansol had paid Rs 424.14 crore to Welphre, out of which Rs 382.84 crore was transferred to various institutions. Out of this, 246.07 crore rupees were given to the concerned parties of Jansol. In which Anmol Singh Jaggi got Rs 25.76 crore and Puneet Singh Jaggi got Rs 13.55 crore.
A listed company acts like a private firm.
According to Savvy, Jansol’s internal control and corporate administration failed in this case. Promoters were running a listed public company as if it was their private company.
The company’s money was transferred to the concerned parties and used for unnecessary expenses, such as the company’s money was their personal treasure. The SEC ordered Jansol promoters Anmol and Puneet Singh Jaggi to be removed from the post of director of the company and banned them from the market.
In addition, the recently announced stock division has also been asked to stop. Analysis of Savvy showed that when Jensol transferred money to Gooto under the guise of e-commerce purchase, in most cases the money was either returned to Jansol or transferred to the respective parties of the promoters.
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