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Context is everything.
Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
Contrary to promoter Anmol Singh Jaggi’s claims, Tibrewala is far from a passive investor in Gensol. He’s the moneybags on whose back the company’s stock has zoomed.
Hari Shankar Tibrewala, one of the individuals associated with the Mahadev online betting scam, and now the subject of an Enforcement Directorate (ED) investigation, has direct and deep links with solar utility company Gensol Engineering, according to two people aware of the matter, who requested anonymity.
Gensol Engineering is also related to all-electric taxi startup BluSmart; both have the same promoter, Anmol Singh Jaggi.
“Hari plays the role of an advisor and a deal maker,” says one of two people cited above. “He uses his network of contacts to help the company get into deals in different geographies and …
Ghost directors, family members on the payroll and shadow operators—inside the tangled web of power and money at BluSmart and Gensol.
A letter from one of BluSmart’s largest investors reveals how the ride-hailing startup’s promoters withheld critical information from the shareholders and the board while providing consistently inaccurate financial forecasts.
With his back to the wall, the founder is exploring options that could benefit him much more than others. Even at the expense of the customers, investors, vendors and employees.
