Sebi confirms ban on Gensol, Jaggi brothers in fund diversion case

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Markets regulator Sebi on Wednesday upheld its interim order restraining Gensol Engineering and its former top executives Anmol Singh Jaggi and Puneet Singh Jaggi from the securities markets on concerns over fund diversion and corporate governance failures.

Additionally, the regulator said Jaggi brothers, also cofounders of EV ride-hailing firm BluSmart Mobility, would continue to be debarred from holding the position of a director or key managerial personnel in Gensol.

The final order comes as the company undergoes insolvency proceedings under the…



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Sebi confirms ban on Gensol, Jaggi brothers in fund diversion case



Markets regulator Sebi on Wednesday upheld its interim order restraining Gensol Engineering and its former top executives Anmol Singh Jaggi and Puneet Singh Jaggi from the securities markets on concerns over fund diversion and corporate governance failures.

Additionally, the regulator said Jaggi brothers, also cofounders of EV ride-hailing firm BluSmart Mobility, would continue to be debarred from holding the position of a director or key managerial personnel in Gensol.

The final order comes as the company undergoes insolvency proceedings under the…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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