🚨 Major shake-up at Gensol Engineering!

SEBI has taken strict action, barring founders Anmol & Puneet Singh Jaggi from holding key managerial positions or participating in the securities market. The move comes after allegations of fund diversion and serious corporate governance failures shook investor confidence. Gensol’s stock has nosedived over 75% from its recent highs, following a string of credit downgrades and governance red flags. To add fuel to the fire, a proposed 1:10 stock split has been abruptly canceled, raising further concerns about the company’s future direction. Earlier this year, the promoters offloaded 2.37% of their stake, stating their intention to reinvest in the business. However, with 81.7% of promoter shares now pledged, fears around financial stability and transparency are intensifying. The developments come as a blow to the company’s EV and solar ventures, including BluSmart, which had built up strong investor interest over the past year.