ED Raids Gensol Engineering’s Premises in Ahmedabad & Gurugram
The Enforcement Directorate (ED) has conducted a raid on the premises of Gensol Engineering, a leading engineering and energy services company, in Ahmedabad and Gurugram. The raid was conducted on Monday and saw the ED seize documents, electronic devices, and financial records of the company. The search and seizure operation was carried out under the provisions of the Foreign Exchange Management Act (FEMA).
Gensol Engineering, which is engaged in providing engineering and energy services to various industries, has been in the news recently due to allegations of fund diversion. Earlier, the Securities and Exchange Board of India (SEBI) had found that the company’s promoters had diverted the company’s funds to buy properties for personal use.
The ED’s raid on Gensol Engineering’s premises is a significant development in the ongoing investigation into the company’s financial dealings. The agency has been probing allegations of money laundering and financial irregularities against the company and its promoters.
The raid is believed to have been conducted as part of a larger investigation into the company’s financial transactions. The ED is likely to investigate whether the company’s funds were diverted to illegal activities, such as money laundering or benami transactions.
Gensol Engineering has denied any wrongdoing and has stated that the search and seizure operation was carried out under the provisions of FEMA. The company has also claimed that it has been cooperating with the ED and has provided all necessary information and documents.
The ED’s raid on Gensol Engineering’s premises is a significant development in the ongoing investigation into the company’s financial dealings. The agency has been probing allegations of money laundering and financial irregularities against the company and its promoters.
The raid is believed to have been conducted as part of a larger investigation into the company’s financial transactions. The ED is likely to investigate whether the company’s funds were diverted to illegal activities, such as money laundering or benami transactions.
Gensol Engineering has been in the news recently due to allegations of fund diversion. Earlier, SEBI had found that the company’s promoters had diverted the company’s funds to buy properties for personal use.
The ED’s raid on Gensol Engineering’s premises is a significant development in the ongoing investigation into the company’s financial dealings. The agency has been probing allegations of money laundering and financial irregularities against the company and its promoters.
The raid is believed to have been conducted as part of a larger investigation into the company’s financial transactions. The ED is likely to investigate whether the company’s funds were diverted to illegal activities, such as money laundering or benami transactions.
Gensol Engineering has denied any wrongdoing and has stated that the search and seizure operation was carried out under the provisions of FEMA. The company has also claimed that it has been cooperating with the ED and has provided all necessary information and documents.
The ED’s raid on Gensol Engineering’s premises is a significant development in the ongoing investigation into the company’s financial dealings. The agency has been probing allegations of money laundering and financial irregularities against the company and its promoters.
The raid is believed to have been conducted as part of a larger investigation into the company’s financial transactions. The ED is likely to investigate whether the company’s funds were diverted to illegal activities, such as money laundering or benami transactions.
Gensol Engineering has been in the news recently due to allegations of fund diversion. Earlier, SEBI had found that the company’s promoters had diverted the company’s funds to buy properties for personal use.
The ED’s raid on Gensol Engineering’s premises is a significant development in the ongoing investigation into the company’s financial dealings. The agency has been probing allegations of money laundering and financial irregularities against the company and its promoters.
The raid is believed to have been conducted as part of a larger investigation into the company’s financial transactions. The ED is likely to investigate whether the company’s funds were diverted to illegal activities, such as money laundering or benami transactions.
Gensol Engineering has denied any wrongdoing and has stated that the search and seizure operation was carried out under the provisions of FEMA. The company has also claimed that it has been cooperating with the ED and has provided all necessary information and documents.
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