IREDA loan: CBI registers case against Gensol Engineering, BluSmart founders over ₹672-crore alleged loss

The Central Bureau of Investigation has registered a case against Gensol Engineering Limited, Gensol EV Lease Limited, its promoters and others for allegedly causing a loss of ₹672.74 crore to the Indian Renewable Development Agency Limited (IREDA).Among those named in the First Information Report (FIR) are Anmol Singh Jaggi and Puneet Singh Jaggi, co-founders of the electric mobility ride-hailing service BluSmart and Gensol Engineering.IREDA, in its complaint to the CBI, alleged that it suffered a loss of ₹453.77 crore as principal amount outstanding on account of Gensol Engineering and ₹218.97 crore as principal amount on account of Gensol EV Lease Limited, excluding interest liability.It had extended financial assistance to Gensol Engineering for procurement of electric vehicles and exe