Overview
- Provisional attachment covers a DLF The Camellias unit valued at Rs 40.57 crore and bank balances of Rs 14.28 crore, plus a DLF The Magnolias apartment worth Rs 32.28 crore.
- ED alleges Gensol Engineering and BluSmart routed loans from IREDA, PFC and Toyota Financial Services through Go Auto, then layered the money across group entities for other uses and promoter gain.
- The agency notes outstanding exposure of about Rs 505.27 crore to IREDA and PFC as of December 2025 after the loan accounts turned non-performing.
- The Camellias flat is registered to Capbridge Ventures LLP and the Magnolias unit to Anvi Power Investment Pvt Ltd, with ED also tracing funds in accounts it describes as benami, opened in employees’ names.
- In a linked case, ED says Matrix Gas and Renewables diverted an initial 20% of an approved Rs 32.28 crore government grant under the National Green Hydrogen Mission, prompting a CBI case on a MECON complaint and the attachment of the Magnolias unit.