By Admin 
Gensol engineering scam: Securities and Exchange Board of India (SEBI) has taken strict action against Jansol Engineering and its promoters Anmol Singh Jaggi and Puneet Singh Jaggi. They have been accused of misusing funds in Jansol engineering, giving misleading information to manipulate the stock market.
Strict action of SEBI on Jansol
In an interim order on Tuesday, SEBI has stopped stocking this solar power consultancy firm as well as both promoters from holding the post of promoters. Apart from this, they have also been stopped from doing any kind of transaction in the stock market. Let us know that Jansol Engineering recently announced 1:10 Stock Split. SEBI will now appoint an auditor to detect the financial activities of the company and conduct a thorough investigation, who will have to submit its investigation report within six months. SEBI will now appoint an auditor to detect the financial activities of the company and conduct a thorough investigation, who will have to submit its investigation report within six months.
What is the matter?
In fact, this company, which provides electric vehicle (EV) leasing and solar EPC services, took a loan of about Rs 977 crore from Ireda and Power Finance Corporation. Of these, 663 rupees were taken to buy EV. Later, when it was investigated, it was found that the company bought only 4,704 electric vehicles, while the rest of the fund worth about Rs 207 crore was diversified elsewhere. It is alleged that the promoters used the funds to spend their personal expenses.
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