Leadership Shake-Up at Gensol Engineering Amid SEBI Order

Promoters of Gensol Engineering, Anmol Singh Jaggi and Puneet Singh Jaggi, have resigned following an SEBI order citing fund diversion and governance lapses. The order bars them from market participation and from holding directorial roles. Sebi's investigation revealed misuse and misdirection of company funds.

In a dramatic turn of events, Anmol Singh Jaggi and Puneet Singh Jaggi, promoters of Gensol Engineering, have resigned from their positions. This decision follows a stringent interim directive from market regulator SEBI, as revealed in an official exchange filing.

Previously, Anmol served as the Managing Director and Puneet held the post of Whole-time Director. The SEBI order, issued on April 15, 2025, came after allegations of fund diversion and governance failures, banning the company and its promoters from the securities markets.

The regulator also accused Gensol Engineering of trying to mislead by submitting forged documents. SEBI emphasized that the promoters ran the public company like a proprietary firm, raising serious questions about corporate governance at the firm.