Who is Anmol Singh Jaggi, promoter of Gensol Engineering banned by SEBI, Know his education, Net worth
On Tuesday, the Securities and Exchange Board of India (SEBI) took strict action against Anmol Singh Jaggi and his brother Puneet Singh Jaggi, the promoters of Gensol Engineering Limited (GEL). SEBI has banned both of them from holding any position as directors or key decision-makers in the company until further notice. This action was taken after they were found guilty of failing to repay company debts and misusing company money for their own luxury expenses.
Anmol Singh Jaggi, a successful entrepreneur in the EV and clean energy field, is now under scrutiny for misusing his company’s money. While he played a big role in growing companies like BluSmart and Gensol, the allegations of fraud and financial mismanagement have led SEBI to take strict actions. This serves as a reminder that no matter how big a businessperson is, transparency and honesty are essential in running a company.
Who is Anmol Singh Jaggi?
Anmol Singh Jaggi is a well-known entrepreneur in the clean energy and electric vehicle (EV) space. He studied B.Tech in Applied Petroleum Engineering from the University of Petroleum and Energy Studies, Dehradun between 2003 and 2007.
He is not just linked to Gensol, but also plays important roles in other companies. He is the co-founder of BluSmart, an electric cab service, and the Managing Director of Matrix Gas and Renewables Limited.
His Personal Life and Career Journey
Anmol is the father of two children, aged 4 and 10. Coming from an army family (a “fauji kid”), he always had a dream of becoming an entrepreneur. His journey started with a summer internship at Reliance Industries in 2005.
In 2017, he launched Gensol Engineering Limited, focusing on clean energy solutions. Then in December 2019, he started BluSmart with just 70 electric cars. He saw the increasing demand for green, sustainable transport and acted fast. By April 2022, BluSmart had advanced technology and was running over 1,250 cars in a single shift.
What Is His Net Worth?
Though the exact net worth is not clearly stated, public corporate records (as of December 2023) show that Anmol Singh Jaggi holds stocks worth over ₹1,020.8 crore, as reported by Sovrenn.com. This reflects his strong financial presence in the Indian startup and energy sectors.
Why Did SEBI Take Action Against Him?
SEBI found strong evidence that Anmol and Puneet diverted company money for personal benefit. The funds of Gensol were being used illegally and unethically, and SEBI said they were treated like a “piggy bank” by the promoters. In simple words, the money meant for running and growing the company was spent on personal luxury instead.
SEBI said this misuse of funds was fraudulent, and that the promoters were the main people who benefited from these wrongdoings. Because of these serious issues, SEBI decided to stop both brothers from making any key decisions in Gensol until the matter is fully resolved.
