Former BharatPe co-founder Ashneer Grover revealed in his latest post that he received funding from Anmol Singh Jaggi, the promoter of Gensol Engineering Ltd, a company which is now under investigation by India’s capital markets regulator for alleged financial misappropriation and fund diversion. He also admitted investing in Jaggi's BluSmart.
Ashneer Grover claims being the 'victim'
"I am the ‘victim’ of the current scenario having personally invested ₹1.5 crore in BluSmart and ₹0.25 cr in Matrix. I hope the business company can survive the current fiasco for sake of its stakeholders," Grover wrote on the social media platform, X. "A private limited company is not liable for the conduct of shareholder or doing diligence / ascertaining their source of funds," he added.
Bashing the Indian media, Grover said, "Indian journalism is really out of ideas and witch hunt seems to be their only business - even when they’ve unashamedly failed multiple times before with me. "
He further remarked, "Dragging my and my company’s name is this Gensol / BluSmart fiasco is rather shameful and cheap journalism. In fact I am the ‘victim’ of the current scenario having personally invested ₹1.5 cr in BluSmart and ₹0.25 cr in Matrix. I hope the business / company can survive the current fiasco for sake of its stakeholders."
According to SEBI’s interim order dated April 15, 2025, Jaggi invested in Third Unicorn Pvt Ltd, a startup launched by Grover, which is a part of a bigger scheme of suspicious financial transactions involving Gensol.
The order disclosed that Jaggi acquired 2,000 shares of Third Unicorn for ₹50 lakh and retained his stake as of March 31, 2024.
Incidentally, Grover had earlier expressed his desire to collaborate with Jaggi, who also heads BluSmart—an electric vehicle-based cab service—to disrupt the ride-hailing market dominated by Ola and Uber.
In early 2023, shortly after publishing his memoir Doglapan, the former Shark Tank India judge sent a personally signed copy of the book to Jaggi.
The handwritten note from Grover read, “To Anmol Jaggi,” and “I get along fabulously with Sardar Jees. Jaspal Bindra ke saath PMC Bank bachaya. Tere saath Ola+ Uber ko beat karna hai. Think and do big.”
Jaggi later shared the signed note on LinkedIn, thanking Grover for the warm gesture.
“Ashneer Grover bhaiya, thanks for the personally signed copy of your book. Super proud to be on your friend list. Getting wisdom from you is key to success,” Anmol Singh Jaggi wrote in the post.
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