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Golf Set to Camellias Flat: Sebi Slams Jaggis for Shifting Funds
Mint Mumbai
|April 16, 2025
Interim order bars promoters from directorships, halts stock split, names forensic auditor
From a luxury apartment purchase in The Camellias to an expensive golf set and various personal expenditures, the promoters of Gensol Engineering Ltd diverted crores of company funds while treating the listed company like a proprietary firm, the stock market regulator said on Tuesday.
In a stinging order, the regulator barred brothers Anmol Singh Jaggi and Puneet Singh Jaggi from directorships in listed companies, stopped the company's planned stock split, and named a forensic auditor to investigate the matter further.
The Securities and Exchange Board of India (Sebi) order, which came after it investigated a complaint received in June 2024, pointed to serious governance lapses, fund diversion and submission of falsified documents. The complaint had alleged share price manipulation and misappropriation of company funds. The probe unearthed what it described as a "complete breakdown" of internal controls and corporate governance.
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FLERE HISTORIER FRA Mint Mumbai
Mint Mumbai
Bank-funded acquisitions won't displace private credit
The Reserve Bank of India's (RBI) draft framework for bank-led acquisition finance marks a decisive policy turn: Indian banks can now enter the acquisition finance market within a clear perimeter, reshaping the competitive dynamics between banks and private credit funds.
3 mins
November 20, 2025
Mint Mumbai
Air India lobbies to use airspace over China's Xinjiang
India-China flights resumed after a five-year hiatus.
1 mins
November 20, 2025
Mint Mumbai
Nitish Kumar to take oath as Bihar CM
JD(U) supremo Nitish Kumar to be sworn-in as Bihar chief minister for a record 10th time.
1 min
November 20, 2025
Mint Mumbai
A fresh perspective on abstraction in art
A new exhibition in Mumbai showcases different approaches to abstraction by artists like Zarina, Seher Shah and Mehlli Gobhai
3 mins
November 20, 2025
Mint Mumbai
Govt eyes post-cut GST revenue surge
FinMin expects Nov GST receipts growth to rebound to 10%
2 mins
November 20, 2025
Mint Mumbai
PayMate pulls plug on West Asia operations
The Visa-backed B2B payments firm is scrambling to raise more funds
2 mins
November 20, 2025
Mint Mumbai
Exide's dual bet: Can lithium-ion offset a weakening core?
Exide Industries Ltd is struggling to fuel its core lead-acid business while simultaneously turning its capex-heavy lithium-ion venture into a viable second growth engine.
1 mins
November 20, 2025
Mint Mumbai
Bank-funded acquisitions won’t displace private credit
The Reserve Bank of India's (RBI) draft framework for bank-led acquisition finance marks a decisive policy turn: Indian banks can now enter the acquisition finance market within a clear perimeter, reshaping the competitive dynamics between banks and private credit funds.
3 mins
November 20, 2025
Mint Mumbai
Afghanistan trade minister seeks India investments, goods
Afghanistan's Taliban trade minister arrived in India on Wednesday on a maiden visit to draw greater investments and goods as both countries consider ways to enhance their relations in the backdrop of souring relations with neighboring Pakistan.
1 min
November 20, 2025
Mint Mumbai
Fractal Analytics bets heavily on R&D in AI race before IPO
Enterprise artificial intelligence firm Fractal Analytics plans to maintain high research and development (R&D) spending ahead of its market debut for which a date has not yet been set, a top executive has said.
2 mins
November 20, 2025
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