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ICAI Starts Probe into Gensol, BluSmart Fraud Charges
Financial Express Chandigarh
|April 24, 2025
Trouble Mounts for Gensol
The Institute of Chartered Accountants of India (ICAI) said on Wednesday that it is examining the financial statements and the statutory auditor's reports of Gensol Engineering and its affiliate BluSmart Mobility for FY24.
In a meeting, the financial reporting review board (FRRB) of the ICAI initiated a suo moto probe into Gensol and BluSmart Mobility for alleged financial irregularities.
BluSmart Mobility is co-founded by Gensol promoters—Anmol Singh Jaggi and Puneet Singh Jaggi. It is an EV-only ride-hailing startup.
The ICAI's probe into these two companies will be independent from the ministry of corporate affairs' (MCA) move to look into the Gensol matter.
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