SEBI Upholds Security Market Ban On Gensol’s Jaggi Brothers

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SUMMARY

SEBI has upheld its interim direction barring the brothers from holding the position of director or key managerial personnel of the troubled company, which is a related entity of ride-hailing startup BluSmart

After SEBI released the interim order on April 15, Gensol unsuccessfully moved the SAT, filing a plea on May 7

The interim order triggered a crisis for Gensol, which is under bankruptcy proceedings. BluSmart, too, is undergoing insolvency proceedings now

About three months after issuing an interim order in the…



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SEBI Upholds Security Market Ban On Gensol’s Jaggi Brothers


SUMMARY

SEBI has upheld its interim direction barring the brothers from holding the position of director or key managerial personnel of the troubled company, which is a related entity of ride-hailing startup BluSmart

After SEBI released the interim order on April 15, Gensol unsuccessfully moved the SAT, filing a plea on May 7

The interim order triggered a crisis for Gensol, which is under bankruptcy proceedings. BluSmart, too, is undergoing insolvency proceedings now

About three months after issuing an interim order in 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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