All of Gensol Engineering Limited's and its affiliated companies' bank accounts and lockers have been frozen and attached by the Ahmedabad-based National Company Law Tribunal (NCLT). The Ministry of Corporate Affairs (MCA) filed a complaint accusing the corporation of financial mismanagement and substantial corporate fraud, which prompted
Following Gensol Engineering's default on a loan of INR 510 crore, the state-run financier Indian Renewable Energy Development Agency (Ireda) filed a petition against the business under Section 7 of the Insolvency and Bankruptcy Code, Ireda said in a stock exchange filing on 14 May. The value of
Anmol and Puneet Singh Jaggi, promoters of Gensol Engineering Ltd, are now facing severe legal repercussions and conditions following their detention under the Foreign Exchange Management Act (FEMA). The Enforcement Directorate rounded up Puneet Singh Jaggi in Delhi while also conducting raids across Delhi, Gurugram, and Ahmedabad. This probe was
The swift action taken by the Securities and Exchange Board of India (SEBI) against Gensol Engineering Ltd has led to a ban on the company and its promoter directors from engaging in the securities market. The ruling affects Anmol Singh Jaggi and Puneet Singh Jaggi, who headed the firm until