Markets regulator Sebi has found “no manufacturing activity” at Gensol Engineering’s electric vehicle (EV) plant in Pune with only 2-3 labourers present during a site visit on April 9. The revelations were part of SEBI’s interim order issued on April 15 following a complaint received in June 2024 alleging manipulation of Gensol’s share price and misappropriation of funds.

The investigation revealed a lack of manufacturing activity at Gensol’s EV plant, Gensol Electric Vehicle Private Ltd, at Chakan in Pune. The NSE official called for details of electricity bills of the unit and observed that the maximum amount billed by Mahavitaran during the last 12 months was ₹1,57,037.01 for December 2024. Sebi revealed that it can be inferred that.

There has been no manufacturing activity at the plant site, which is on a leased property. The visit followed an announcement by Gensol to the stock exchanges on January 28, 2025, expenses, including purchasing a high-end apartment and other non-business-related expenditures claiming it had received pre-orders for 30,000 units of its newly launched EVs.

The Securities and Exchange Board of India (SEBI) has uncovered significant discrepancies at Gensol Engineering’s electric vehicle (EV) plant in Chakan, Pune. An inspection by a National Stock Exchange (NSE) official on April 9 revealed no manufacturing activity, with only 2-3 labourers present on-site. Electricity consumption records further indicated minimal.

These findings are part of SEBI’s interim order issued on April 15, following a complaint EVs showcased at the Bharat Mobility Global Expo 2025. However, SEBI’s investigation received in June 2024 alleging manipulation of Gensol’s share price and misappropriation of funds. The regulator noted misleading disclosures to investors by Gensol Engineering, promoted by.

In January 2025, Gensol announced receiving pre-orders for 30,000 units of its newly brothers Anmol Singh Jaggi and Puneet Singh Jaggi. launched EVs showcased at the Bharat Mobility Global Expo 2025. However, SEBI’s investigation brothers Anmol Singh Jaggi and Puneet Singh Jaggi. revealed these were merely non-binding Memorandums of Understanding (MoUs).

SEBI has barred the Jaggi brothers from accessing the securities market and initiated a forensic audit of Gensol. The probe also uncovered alleged misuse of ₹975 crore in loans intended for with nine entities, lacking details on EV projects, with funds diverted to personal luxury expenses, including purchasing a high-end apartment and other non-business-related.

The investigation has led to the resignation of three independent directors from Gensol’s with nine entities, lacking details on board, citing concerns over governance and the unfolding corporate governance and revelations . Additionally, BluSmart, an EV-based ride-hailing service co-founded by Anmol Jaggi, has temporarily suspended bookings on its app amid.

The Securities and Exchange Board of India (SEBI) has raised serious concerns over Gensol Engineering’s electric vehicle (EV) operations after a surprise inspection of its Pune plant revealed a complete lack of manufacturing activity. According to SEBI’s interim order, issued on April 15, an NSE official visited Gensol’s Chakan facility on April 9 and found only 2-3.

The investigation was triggered by a complaint received in June 2024, which alleged price manipulation of Gensol’s shares and misuse of investor funds. The findings point to misleading statements made by the company regarding its order pipeline. SEBI revealed that the company’s announcement in January 2025 claiming.

SEBI has temporarily barred Gensol promoters Anmol Singh Jaggi and Puneet Singh Jaggi from accessing the securities market. It has also initiated a forensic audit to trace the ₹975 crore in loans that were supposed to fund EV development. Preliminary funds may have been diverted to luxury purchases, including a premium apartment.

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French club Lyon stoked the flames of the Ronaldo-Messi rivalry in their announcement video for Argentine midfielder Thiago Almada.

With the January football transfer window currently open and clubs across Europe looking to add talent to their rosters for the run-in in the second half of the season, French team Olympique Lyonnais have made the exciting signing of Argentine midfielder Thiago Almada. Almada joins on an initial loan from Brazilian club Botafogo, but his announcement was made in style in the latest in a long line of iconic transfer videos.

The 23-year-old midfielder’s signing was announced through a video shared by Lyon in which he receives a text message from ‘Lionel’ along with a goat emoji, clearly meant to be the legendary Lionel Messi, Almada’s compatriot and teammate in the Argentine national team. The text sent to Almada in this video reads “Don’t listen to Cristiano, Ligue 1 is incredible.”

Lyon’s retribution for Ronaldo’s comments
The text provides a sneaky tongue-in-cheek remark from the seven-time French champions, who are referencing Cristiano Ronaldo’s past comment regarding Ligue 1 being a weaker competition than the Saudi Pro League, where he currently plies his trade for Al Nassr. Ronaldo had claimed there was a better standard of football in Saudi Arabia, with the French league considered the weakest of the ‘top five’ leagues in Europe.

Messi, meanwhile, spent two years playing in France, having spent a period in the capital with Paris Saint-Germain after leaving Barcelona. Messi was the latest star at PSG, playing alongside Neymar Jr and Kylian Mbappe, before the trio was broken up as they left France with Messi heading to Inter Miami, Neymar to Al Hilal in Saudi Arabia, and Mbappe finally getting his marquee move to Real Madrid.

Almada was part of the Argentina squad that lifted the World Cup trophy in Qatar in 2022, helping Messi finally get his hands on the coveted trophy and firmly setting his status as the greatest of all time in stone. Almada has represented Argentina six times, scoring twice, and finally earned a move to Europe after playing for Atlanta United in the MLS and a brief spell in the Brazilian Serie A at Botafogo. Almada will be joining fellow Argentine Nicolas Tagliafico, who also made a cameo appearance in the announcement video.

Lyon currently sit in sixth place in the Ligue 1 table with half the season concluded, but will have intentions of fighting for spots in next year’s UEFA Champions League with a strong end to the season, in which Almada could play an important role.

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The conflict was triggered by Hamas’s brazen terror attacks on southern Israel on October 7, 2023 that killed almost 1,200 people

India on Thursday welcomed the ceasefire deal reached between Israel and Hamas and reiterated its call for a return to a path of dialogue and diplomacy.

Negotiators from Israel and Hamas have agreed on a 42-day truce and hostage release, and the deal will come into effect on January 19, US President Joe Biden and Qatari Prime Minister Mohammed bin Abdulrahman bin Jassim Al Thani said on Wednesday. The truce comes after more than 460 days of war that has devastated Gaza.

“We welcome the announcement of the agreement for the release of hostages and a ceasefire in Gaza,” the external affairs ministry said in a brief statement.

“We hope this will lead to a safe and sustained supply of humanitarian assistance to the people of Gaza. We have consistently called for release of all hostages, ceasefire, and return to a path of dialogue and diplomacy,” the statement said.

The conflict was triggered by Hamas’s brazen terror attacks on southern Israel on October 7, 2023 that killed almost 1,200 people. More than 46,000 Palestinians have been killed in Israel’s retaliatory attacks and bombardment of the Gaza Strip.

Qatar’s prime minister told reporters that Israel and Hamas were still to conclude some logistical matters related to the ceasefire, while the office of the Israeli prime minister said in a statement that a number of details of the agreement remained unresolved. The deal also needs to be formally ratified by the Israeli cabinet and the government.

The initial phase of the ceasefire, set to last six weeks, will see a limited prisoner exchange, partial withdrawal of Israeli troops from Gaza and a surge of aid into the region. Thirty-three Israeli nationals taken hostage during the October 7 attacks will be released in exchange for a large number of Palestinian prisoners, according to reports.

Around 100 Israeli hostages are thought to be still in Gaza, though Israeli authorities believe some if them are dead.

India initially expressed solidarity with Israel after the attacks by Hamas, in line with its “zero tolerance” policy on terrorism, but it adopted a more nuanced position subsequently because of concerns expressed by Arab partners.

India has strong strategic ties with Israel while Arab states are key sources of energy and have developed stronger defence and security ties with India in the past decade. India also had significant concerns about the potential expansion of the conflict because West Asia is home to nine million Indians, with almost six million of them concentrated in Saudi Arabia and the United Arab Emirates.

As the war dragged on, India repeatedly urged Israel to be mindful of humanitarian concerns in its response. The Indian side also called for the unimpeded provision of humanitarian aid to the people of Gaza and a return to the path of dialogue and diplomacy aimed at finding a two-state solution.

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