Current Affairs - Business - Discussion

Gensol Engineering Ltd came under regulatory scrutiny in 2024 after SEBI received a complaint alleging share price manipulation and fund diversion. Upon investigation, SEBI found prima facie evidence of serious misconduct, including treating company funds as personal assets by the promoters, Anmol Singh Jaggi and Puneet Singh Jaggi. The company was barred from accessing the securities market, and its promoters were also restricted from holding key positions within GEL. Violations included misleading disclosures, submission of forged documents, and breaches of PFUTP regulations. This action by SEBI reinforces the importance of ethical governance and investor protection in India’s corporate landscape.