NEW DELHI: Ahead of formally launching a money-laundering investigation, the Enforcement Directorate Thursday detained Puneet Jaggi, one of the promoters of Gensol Engineering, which operated BluSmart cab services, to question him on alleged Foreign Exchange Management Act violations. The probe is to ascertain if Gensol diverted funds for acquiring foreign exchange.
While Puneet was picked up from a hotel in Delhi during searches conducted by the agency at multiple places in Delhi, Gurgaon and Ahmedabad, his brother and co-promoter Anmol Jaggi is believed to be out of the country and will soon be summoned for questioning.
Jaggi brothers earlier barred from operating in share market
The Jaggi brothers were earlier barred from operating in the share market after regulator Sebi found the promoters had diverted company funds for personal gains, including buying property in Gurgaon worth over Rs 45 crore for personal use.
ED is awaiting an FIR, likely to be registered against the Jaggi brothers and their company, to formally register a probe under PMLA, sources said. When reached for comment on Thursday evening, Gensol said their offices were closed for the day.