Sebi’s investigation uncovered alleged financial irregularities at Gensol Engineering, including no manufacturing activity at its EV plant despite grand announcements. The regulator found discrepancies in pre-orders, suspicious transactions, and fund diversion by promoter directors Anmol and Puneet Singh Jaggi. Consequently, Sebi barred Gensol and the Jaggis from the securities market and directed a halt to the stock split.
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