 "Govt to take necessary action in Gensol case after examining Sebi's order")
The corporate affairs ministry on Monday said it will take necessary action in the Gensol Engineering matter after examining market regulator Sebi's order against the company.
Last week, Sebi barred the company's promoters Anmol Singh Jaggi and Puneet Singh Jaggi from the securities market for various violations.
The order came amid accusations of siphoning off loan funds from their publicly listed company Gensol Engineering for personal use, raising concerns over corporate governance and financial misconduct.
When contacted, the Ministry of Corporate Affairs (MCA) told PTI that it is examining the Sebi order in light of the provisions of the Companies Act, 2013.
"Necessary action would be taken accordingly," the ministry said.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app