SEBI Interim Order Against Gensol Engineering Ltd: A Deep Dive into Corporate Governance Failures
IntroductionThis memorandum offers a comprehensive legal and factual analysis of the interim order dated April 15, 2025, issued by the Securities and Exchange Board of India ("SEBI") against Gensol Engineering Limited ("Gensol" or "the Company"), its promoter-directors Mr. Anmol Singh Jaggi and Mr. Puneet Singh Jaggi, and several related parties. The order reveals significant violations involving diversion of institutional funds, circular financing schemes, undisclosed related-party transactions, falsified disclosures to stock exchanges, and manipulation of the securities market.FACTUAL MATRIX AND DETAILED FINDINGSA. Diversion and Misutilization of Institutional BorrowingsGensol and its subsidiary…