307 crore rupees of this government company on Jansol, all efforts will be made for recovery – Cross Talk India
Public sector The Power Finance Corporation (PFC) said on Tuesday that it is actively involved in taking further action to recover pending dues of Rs 307 crore from Jansol Engineering and ‘all possible options tattolane’. The company has been under the scanner of SEBI due to the rigging of funds and lapse in company operations. PFC said in a statement that a complaint has also been lodged against the company in the Economic Offenses Branch (EOW) regarding the issuance of fake documents to show better records of debt repayment.
PFC approved a loan of Rs 633 crore in January 2023
Power Finance sanctioned a loan of Rs 633 crore to Jansol Engineering in January 2023. This funding was given to buy 6000 EV. Under this, 5000 electric cars were approved for purchase of 5000 electric cars and Rs 46 crore for the purchase of 1000 electric three-wheelers for cargo operations for the ‘online’ car booking service of Blussmart Mubulture. However, according to the company, the loan for the three-wheeler was not taken advantage of. The PFC had distributed Rs 352 crore to Jansol to lease 3000 electric vehicles from the loan of Rs 587 crore approved for electric cars.
Company paid loans on time till 31 January
The company said that the loan repayment had started and the company had paid Rs 45 crore. Due to this, according to the status of April 18, 2025, the company remained outstanding the basic dues of Rs 307 crore. PFC said, “Jansol was regularly paying its dues till January 31, 2025. In the fourth quarter of FY 2024-25, PFC used a loan service reserved account (DSRA) to repay the dues of February and March 2025.” The company said that the company said that all potential options are being considered actively for further action in this matter.
PFC near Jansol’s equity share
Third party agencies appointed by PFC have confirmed that 2741 vehicles were given to the company and have been held ‘hostage’ with the public sector company. In addition, the company stated that Jansol Ventures Private Limited has a corporate guarantee of Private Limited and PFCs have the equity shares of Jansol and non-convertible debentures (NCDs) with PFCs.
With PTI inputs
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