Sebi, through the interim order on Tuesday of last week, Barred Brothers Anmol Singh Jaggi and Puneet Singh Jaggi access the stock markets until more information is coming | Photo credit: Lerbank
Gensol Engineering’s shares continued their southern trip in Thorsday, falling 5 percent to reach another lower circuit level, amid the current crisis in the company.
Sebi, through his interim order on Tuesday of last week, prohibited the brothers Anmol Singh Jaggi and Puneet Singh Jaggi to access the stock markets until it is coming.
The action occurs amid the accusations of diverting the loan funds of its company Gensol Engineering of the public company for personal use, collecting Conerns on corporate governance and financial misconduct.
The shares of the company affected by the crisis fell 4.96 percent to ₹ 95.80-IT is a limit of smaller permissible for the day for the day, as well as 52 weeks of low level in the EEB.
In the NSE, it is submerged by 5 percent to reach the lower circuit, as well as the minimum of 52 weeks of ₹ 94.91.
Since its maximum of 52 weeks of ₹ 1.125.75, the action has lost 91.49 percent so far.
The action has been falling for 11 days of negotiation, including Thorsday.
Gensol Engineering is dedicated to providing solar consulting services, engineering, acquisitions and construction (EPC) and leasing electric vehicles, among others.
Sebi received a complaint in June 2024 related to the manipulation of the price of shares and the deviation of gensol funds and, therefore, began to examine the matter.
In addition, Sebi ordered Gensol Engineering to put his division of scheduled shares in the relationship or 1:10 waiting.
The Ministry of Corporate Affairs said Monday that it will take the necessary measures in the engineering matter Gensol after examining the order of the Sebi market regulator against the company.
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Posted on April 24, 2025