Anmol Jaggi-linked company bought luxe apartment in DLF Magnolias

Anvi Power Investments, a company in which Anmol Jaggi is a director, bought a ₹32 crore apartment at The Magnolias, an uber-luxury project in Gurugram and also of DLF

Nearly two weeks after the Securities and Exchange Board of India (Sebi) alleged financial misappropriation and the purchase of a multicrore apartment at The Camellias (of DLF) by Gensol Engineering copromoter Anmol Singh Jaggi, documents reviewed by Business Standard show a second high-value real estate transaction. 

 

Anvi Power Investments, a company in which Anmol Jaggi is a director, bought a ₹32 crore apartment at The Magnolias, a uber-luxury project in Gurugram and also of DLF.

 

The sale deed for the flat — a sprawling 6,428 square foot property — was signed in March last year. This deal happened after the registration of The Camellias apartment was done just seven months earlier  —   in August 2023.

 

The authorised signatory to the sale-deed document is Rohit Rathore, whose profile description on LinkedIn describes him as accounts manager at BluSmart, the electric cab-hailing company and a subsidiary of Gensol Engineering.

 

Rathore started working with BluSmart in February 2019 as assistant accounts manager. It could not be confirmed if he is still with the company.

 

According to the data from Zauba Corp, a business research platform, Anvi has three directors — Jaggi, Jabirmahendi Aga, and Vibhuti Patel. Jaggi is the company’s managing director, based on the data on the Anvi Power website.

 

Patel is serving as independent director at Gensol Engineering. According to reports, after a series of top-level exits at the company, the board now has only three members — the Jaggi brothers (Anmol and Puneet) and Patel.

 

Anmol Jaggi, chairman and managing director of Gensol Engineering and also one of the cofounders of BluSmart, is out of India, according to media reports. In its interim order of April 15, 2025, Sebi had debarred Anmol (along with his brother Puneet) from accessing the securities markets for alleged fraudulent practices and fund diversion.

 

The regulator also disallowed them from holding key positions in any listed firm. 

 

 

Aga had rejoined Gensol Engineering as the company’s chief financial officer (CFO) in March this year. In his role, Aga was required to report directly to Anmol Jaggi. In a statement, Gensol has said that Aga has a “deep understanding of Gensol’s financial operations, having previously served as CFO for Gensol Engineering”.

 

The registered address of Anvi is the same as that of Gensol Engineering — 15th Floor, A Block, Westgate Business Bay, S G Road, Ahmedabad, Gujarat, 380051. According to information received from Tofler, the company, set up in September 2023, has not filed its financials since inception.

 

Business Standard attempted to reach the three directors, Puneet Jaggi (Gensol Engineering and BluSmart copromoter), and the authorised signatory to the document. However, none of them responded to requests for comment or clarification.

 

The flat bought by Anvi is on the 16th floor of The Magnolias and comes with three exclusive car-parking slots. It was sold to Anvi by Smita Singh, who lives in the United States. The flat was initially acquired by Singh from DLF Utilities in December 2015.

 

As part of the transaction, Anvi paid the amount via account transfer (₹53 lakh), a demand draft (over ₹25 crore), and a real-time gross settlement (more than ₹6 crore). The apartment was purchased for a total sum of ₹32.2 crore. In addition, a stamp duty of around ₹2.25 crore was paid for the transaction, along with the registration fee of ₹50,010.

 

Earlier, in its order, the market regulator said: “The funds availed by Gensol as loans for procuring EVs (electric vehicles) were, through layered transactions, partly utilised for buying a high-end apartment in The Camellias, DLF Gurgaon, in the name of a firm where the MD (managing director) of Gensol and his brother are designated partners.”

 

The purchase of The Camellias was executed by Capbridge Ventures LLP, a firm in which Anmol and Puneet are designated partners.