IREDA had earlier complained to the Economic Offences Wing (EOW) in late April over alleged falsified documents and Gensol’s dilution of promoter holding without its approval. IREDA has then said that while Gensol’s account is currently under stress, it is not classified as a non-performing asset yet.
Gensol has recently been hit by multiple other developments. Market regulator SEBI has appointed Raju and Prasad Chartered Accountants to conduct a forensic audit of Gensol Engineering financials. The audit will focus on the financial statements of the company during fiscal 2022–25. Further, the company’s promoters – Anmol Singh Jaggi and Puneet Singh Jaggi – have resigned following the market regulator Sebi’s interim order last…
