The Enforcement Directorate (ED) on Thursday detained Gensol Engineering co-promoter and BluSmart co-founder Puneet Singh Jaggi from a hotel in Delhi and conducted searches against the company, a report quoting officials has said.The ED conducted searches under the provisions of the Foreign Exchange Management Act (FEMA) at Gensol’s offices in Delhi, Gurugram and Ahmedabad, according to a report by news agency PTI/The two brothers of beleaguered Gensol Engineering, Puneet Singh Jaggi and Anmol Singh Jaggi, are under the lenses of the probe agency after markets regulatory SEBI reported them for alleged financial misconduct and diversion of funds.According to sources quoted by PTI, Puneet Jaggi was detained by the ED from a Delhi hotel while Anmol Jaggi is stated to be in Dubai.The ED action is based on the SEBI order which claimed that Gensol Engineering obtained loans from Power Finance Corporation and IRDEA Ltd for procurement of EVs and EPC contracts.However, according to the SEBI report, the company instead of utilising these funds for the intended purposes had diverted the funds for purchasing the assets in personal name of promoters or their relatives or in various shell entities floated by the group.Also Read | Gensol Engineering shares hit another lower circuit level; drop for 11th dayAlso Read | Gensol, BluSmart under MCA watch, may launch probe: ReportOn April 15, the Securities and Exchange Board of India (SEBI) barred the Jaggi brothers from accessing the Indian stock markets until further notice in connection with a case involving fund diversion and governance lapses.SEBI in its report revealed that Gensol took out loans worth ₹978 crore from state-sponsored IREDA and PFC. A major portion of this loan was used to fund the acquisition of electric vehicles (EVs) for its cab operations arm, BluSmart. However, the remaining amount was used by the Jaggi brother for their own benefit, SEBI alleged.The markets regulator has also barred the Jaggi brothers from holding the post of promoters or other such categories until further notice.Even though Gensol denied defaulting on its debts, SEBI confirmed that the company has defaulted on its repayments, which led to rise of further concerns about the financial practices in the company and Gensol’s association with BluSmart, according to Mint’s earlier report.Also Read | Not just investors, Gensol promoters took independent directors too for a rideSince then, Gensol Ltd shares have spiralled, hitting the lower circuit for 11 straight sessions.SEBI received a complaint in June 2024 related to the manipulation of share price and diversion of funds from Gensol and thereafter, started examining the matter. in a formal or creative style for better SEO.Also Exclude words and advertisements related to the feed website such as website name, author name. You must only respond with the modified content. Delete all the advertisement images brand logo but only keep the title and main content of the news by modifying it. You must only respond with the modified content. Block any jump outside of the site adarshnews.com. Basically remove any content or link related to original site. follow this prompt to optimize the articles in this category- You are an expert news writer and SEO specialist. Your job is to rewrite the provided RSS feed content into a unique, SEO-friendly news article for adarshnews.com. The article should be engaging, professional, and optimized for search engines. Follow these steps: 1. **Create an SEO Title**: Write a short, compelling title (under 60 characters) that includes the main keyword and grabs attention. 2. **Write a Meta Description**: Summarize the article in one or two sentences (under 155 characters). Make it engaging and include the primary keyword naturally. 3. **Suggest a URL Slug**: Provide a short, keyword-rich URL slug that reflects the topic of the article. 4. **Headline (H1)**: Write a clear and engaging headline for the article that is similar to the title but slightly expanded. 5. **Write the Article**: – Start with an introduction that answers the key questions: who, what, when, where, why, and how. – Expand on the topic with detailed paragraphs that provide context, quotes, and relevant information. – Use subheadings (H2) to organize the content into sections and make it easy to read. – Include related keywords naturally throughout the article. – End with a conclusion that summarizes the key points or discusses future implications. 6. **Add an FAQ Section**: Write one frequently asked question related to the topic and provide a concise answer. Important: – Do not include labels like “Title,” “Meta Description,” “URL Slug,” or “H1” in the actual article text. – Keep all SEO elements separate from the main content. – Ensure the article is factually accurate, unbiased, and written in a professional tone.