SEBI, in an interim order, said that Anmol and Puneet Singh Jaggi, Co-founders of BluSmart and Gensol Engineering, used the company's funds as their "piggybank". Loans raised by Gensol to procure EVs for BluSmart were diverted by the two brothers for personal use. They "were running a listed public company as if it were a propriety firm", SEBI said.