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Sebi bars Gensol Engineering and promoters from markets, halts stock split
The New Indian Express Mangaluru
|April 16, 2025
LAUNCHING a crackdown on Gensol Engineering Ltd (GEL), India's capital market regulator -- the Securities and Exchange Board of India (SEBI) -- has barred the renewable energy firm and two of its promoters - Anmol Singh Jaggi and Puneet Singh Jaggi - from the securities markets till further orders in a fund diversion and governance lapses case.
"The prima facie findings have shown misutilisation and diversion of funds of the Company in a fraudulent manner by its promoter directors, Anmol Singh Jaggi and Puneet Singh Jaggi, who are also the direct beneficiaries of the diverted funds," said Sebi in a 29-page order signed by Ashwani Bhatia, whole-time director of Sebi.
This story is from the April 16, 2025 edition of The New Indian Express Mangaluru.
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