Regulatory Storm: Gensol Engineering and BluSmart Mobility Under the Scanner

Gensol Engineering and BluSmart Mobility are being investigated by the corporate affairs ministry for alleged legal violations. Following a Sebi order against Gensol promoters, the probe seeks to uncover fund diversions and corporate governance issues. The Institute of Chartered Accountants of India is reviewing their financial statements.

The corporate affairs ministry has initiated an investigation into Gensol Engineering and BluSmart Mobility's operations amid allegations of legal breaches.

Gensol, accused of fund divergences and governance lapses, faced restrictions from Sebi after its promoters were banned from market activities.

BluSmart, linked to Anmol Singh Jaggi, will also undergo scrutiny as part of the comprehensive probe.

(With inputs from agencies.)