New Delhi [India], April 24 : Gensol Engineering Limited on Thursday refuted reports claiming that the promoters of the company, Anmol Singh Jaggi and Puneet Singh Jaggi, are likely to be summoned by the Enforcement Directorate (ED) in connection with the Mahadev Betting app case.
In its filing to the exchanges, the company said, "Please note that the company/any of its KMPs or directors, including Anmol Singh Jaggi and Puneet Singh Jaggi, has not received any communication or notice from ED with respect to the appearance regarding the Mahadev book app case pursuant to the fresh probe done by ED on 16.04.2025."
On April 21, several media platforms reported that the financial crime watchdog is likely to summon the promoters of Gensol Engineering.
Although the reports clarified that the agency has not yet sent any notice to the Gensol Engineering promoters to join the probe.
The financial watchdog recently confiscated more than 500,000 Gensol Engineering shares, which were previously held by Dubai-based entity Zenith Multi Trading DMCC, a firm linked to Hari Shankar Tibrewal, the prime accused in the Mahadev betting case.
The company had informed the exchanges, adding that the shares of Zenith Multi Trading DMCC were attached by ED. The clarification in this regard was disclosed by the Company on the BSE and NSE on March 13, 2024.
"We categorically state that the news item is factually incorrect, speculative, and misleading. We reiterate that the promoters of Gensol Engineering Limited have no association with the Mahadev Book app case or the alleged financial transactions cited therein," the company said in the filing.
The company added in its filing that it urges all stakeholders to rely on information published through official communications made by the Company to the stock exchanges and not on speculative media reports.
"The Company reserves its rights to pursue legal remedies against the dissemination of false or misleading information that affects its market standing. We request you to take the above information on your records and disseminate the same on your respective websites," the company further added in the exchange filing.
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