SEBI Bars Gensol Engineering Promoters From Securities Market, Shares Hit 5% Lower Circuit

In a major setback for Gensol Engineering, its Anmol Singh Jaggi and Puneet Singh Jaggi, have stepped down as the company’s directors after an interim order by markets regulator SEBI barred them from the securities market following allegations of serious financial misconduct. In its order, SEBI flagged a “complete breakdown” of corporate governance at Gensol, accusing the promoters of treating the renewable energy and electric vehicle (EV) firm like a  “personal piggy bank.