When it was contacted, the MCA confirmed that it is reviewing the Sebi order in the context of the Companion Law of 2013, and assured that “the necessary action would be the conformity of the tasks.”
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.
Last week, the Bag Board and Exchange of India (SEBI) prohibited the promoters of the company Anmol Singh Jaggi and Puneet Singh Jaggi from the stock market for various violations.
The order occurred in the midst of accusations of diverting funds from the loans of its public company Gensol Engineering for personal use, collecting Conerns on corporate governance and financial misconduct.
When it was contacted, the Ministry of Corporate Affairs (MCA) told PTI that it is examining the Sebi order in the light of the provisions of the Companion Law of 2013.
“The necessary action would be tasks accordingly,” said the ministry.
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Posted on April 21, 2025