New Delhi: The Enforcement Directorate’s Headquarters Investigation Unit, New Delhi, has provisionally attached Apartment No. 1516-B at “The Magnolias,” DLF City Phase-V, Gurugram, under the provisions of the Prevention of Money Laundering Act (PMLA), 2002.
The apartment is registered in the name of Anbee Power Investment Pvt. Ltd. and is valued at ₹32.26 crore. According to ED, the property was allegedly acquired by Gensol Group’s Chairman and key promoter Anmol Singh Jaggi using funds that were diverted from a government-backed Green Hydrogen pilot project.
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Investigation Based on CBI FIR
The ED initiated the probe on the basis of an FIR registered by the CBI’s Special Task Branch (STB), New Delhi, following a complaint filed by MECON Ltd. against Matrix Gas & Renewables Ltd. and others.
Misuse of Government Green Hydrogen Funds
As per the investigation, the Ministry of New and Renewable Energy (MNRE) had allocated government grants under the National Green Hydrogen Mission (NGHM) for the implementation of pilot projects in the steel sector.
For executing these projects, the Ministry of Steel appointed MECON Ltd. as the Scheme Implementing Agency (SIA). Subsequently, Matrix Gas & Renewables Ltd. emerged as the successful bidder and was sanctioned a government grant of ₹32.28 crore for the pilot project.
Funds Allegedly Layered Through Shell Entities
The ED’s financial trail indicates that instead of deploying the grant for the intended Green Hydrogen project, Matrix Gas & Renewables Ltd. routed and layered the entire fund through multiple shell companies and corporate entities allegedly controlled by Anmol Singh Jaggi.
Investigators believe the diverted money was used for personal and business gains within the Gensol Group, rather than for the sanctioned government project.
Apartment Treated as ‘Proceeds of Crime’
During the course of investigation, ED found that a portion of the diverted funds was utilized to purchase the luxury apartment at DLF Magnolias, Gurugram.
On this basis, the agency has classified the property as “Proceeds of Crime” and attached it under PMLA.
Further Probe Underway
The Enforcement Directorate stated that the investigation into additional financial transactions, assets, and foreign linkages related to the Gensol Group is ongoing. More attachments and arrests are likely as the probe progresses.
The case is being seen as one of the most significant instances of alleged misuse of central government Green Energy funds in recent years.
About the author — Suvedita Nath is a science student with a growing interest in cybercrime and digital safety. She writes on online activity, cyber threats, and technology-driven risks. Her work focuses on clarity, accuracy, and public awareness.
