Gensole Engineering Shares Reduce Second 5%, Stock Nosdives Peak by 90%

On Thursday, the shares of Jensole Engineering fell second 5%, hit the lower circuit limit and freshly marked the 52-week low of 117.50, as the company continued to move from allegations of financial misconduct and governance failure. The stock is now below 90% of its highest high.

The latest sales-Securities and Exchange Board complies with the interim order of India (SEBI), which banned promoters Anmol Singh Jaggi and Punit Singh Jaggi from the Securities Market and resigned from the company’s board.

Sebi’s order cited the “complete breakdown” of corporate governance at the renewable ENERGY room and electric vehicle (EV) company. The regulator accused the promoters of using a “Personal Piggy Bank”, accusing the diversion of funds for luxury purchase, including a high-final apartment part and 26 million golf sets in DLF Camelius in Gurgaon.

SEBI investigations launched following a complaint in June 2024 revealed that Gensole misconduct Rs 977.75 crore in the loan of Indian renewable EnerGY development agency (IREDA) and Power Finance Corporation (PFC). The funds were intended for the purchase of 6,400 electric vehicles (EVs), but only 4,704 vehicles were received, with no more than Rs 207 crore.

According to the regulator, promoter-linked entities such as GO-OUTO toe and K CAP Pbridge Ventures were closed to funds, and partially used for personal costs. SEBI also flagged off to submit false documents to credit rating agencies, misleading both investors and lender.

In reply, Gansol said it would fully cooperate with the forensic Audit Dit conducted under SEBI direction.

“The company is committed to providing a full WITH cess of records and information to the auditor to ensure the transparent and comprehensive Audit deterioration process,” he said in a regulatory filing.

The gencer acknowledged that regulatory action and media coverage damaged investors’ spirit.

The company added, “We stay focused on our business objectives and are working diligently to maintain operational stability and operation.”

It also makes it clear that there is no ongoing or covert discussion or agreement related to a merger, acquisition, asset cell or other significant transaction.

Among the increasing regulatory tests and the concerns of the investors, the Calendar Lander has drowned 84.5% of the shares of gensole in 2025.

Also read | 9 tricks were siphon money from Anmol Singh Jaggi Gensole

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