The Directorate of Enforcement (ED), Headquarters Investigation Unit (HIU), New Delhi, has issued a Provisional Attachment Order (PAO) under the Prevention of Money Laundering Act (PMLA), 2002, attaching a luxury residential apartment worth ₹32.28 crore in Gurugram, Haryana.
The attached property, Apartment No. 1516B at The Magnolias, DLF City Phase-V, Wazirabad, Gurugram, is registered in the name of M/s Anvi Power Investment Pvt. Ltd.
Property Linked to Alleged Diversion of Public Funds
According to the ED, the PMLA investigation revealed that the property was acquired by Anmol Singh Jaggi, Chairman and key promoter of the Gensol Group, using funds allegedly diverted from M/s Matrix Gas and Renewables Ltd., a Gensol group company.
The apartment has been provisionally attached as proceeds of crime under the PMLA.
Background of the ED Investigation
The ED initiated the investigation against Matrix Gas and Renewables Ltd. and others based on an FIR registered by the CBI, Special Task Bureau (STB), New Delhi, following a complaint filed by MECON Ltd.
The case relates to the alleged misuse of government grant funds released under a national renewable energy initiative.
Government Grant Under National Green Hydrogen Mission
As per the ED investigation:
- The Ministry of New and Renewable Energy (MNRE) allocated government funds for pilot projects in the steel sector
- These projects aimed to promote the use of green hydrogen in iron and steel manufacturing
- The initiative was implemented under the National Green Hydrogen Mission (NGHM) through the Ministry of Steel
- MECON Ltd. was appointed as the Scheme Implementing Agency (SIA)
Matrix Gas and Renewables Ltd. emerged as the successful bidder for the project, following which 20% of the approved government grant, ₹32.28 crore, was disbursed to the company.
Alleged Misuse of Grant Funds
The ED alleged that instead of using the government grant for the approved pilot project, Matrix Gas and Renewables Ltd.:
- Dishonestly and fraudulently diverted the entire grant amount
- Routed the funds through layered transactions across a network of corporate entities
- Concealed the source of funds and used them for personal enrichment of promoters and other Gensol group activities
The investigation further revealed that part of these funds was used to acquire the attached luxury apartment through a group company.
Current Status of the Case
- A Provisional Attachment Order has been issued under PMLA
- Assets worth ₹32.28 crore have been attached
- Further investigation is ongoing
The case underscores ED’s scrutiny of alleged diversion of public funds allocated for national renewable energy initiatives.
Why This Case Is Important
The Matrix Gas and Gensol Group case highlights:
- Risks in misuse of government grant funds
- Importance of oversight in green energy and hydrogen pilot projects
- ED’s enforcement role in protecting public money
Accountability of promoters in large-scale renewable energy initiatives
Source: ED Press Release dated 19/01/2026