Sebi supports the prohibition on Gensol and Jaggi Brothers in the case of money transfer

The Securities and Stock Exchange Council in India (SEBI) confirmed its ban on geometry and its former executives, Anamol Singh Gagi and Bonnet Singh Gagi, due to allegations of transferring funds and the failure of corporate governance. This prohibition is prohibited by the Jaggi brothers, who are also the founders of Blusmart Mobility, from participating in the stock markets or a contract or major roles in Gensol.

This decision comes at a time when it is underwent insolvency procedures under the supervision of the professional appointed by the court. Sebi actions confirm its commitment to maintaining the safety of the market by decisively addressing financial misconduct.

SEBI’s confirmation order revealed that the preliminary results of the box evacuation and forgery of behavior, which were highlighted in a temporary order in April 2025, are still not dedicated. The Jaggi brothers are accused of rid of Gensol’s loan boxes for personal use, raising great concerns about financial misconduct and company governance standards. The matter states, “… the primary results of the face related to the transfer / misuse of funds from Guinsol have not been successfully refuted.

As the detailed investigation continues, Sebi confirmed that the results will be confirmed by reviewing forensic to provide clarity on allegations of financial misconduct. “The concrete results and criminal references have not yet appeared. It was also presented by the notes, the results of the criminal audit will lead to the confirmation of the realistic situation and the provision of greater clarity in the examinations that have been examined.” Sebi does not find reasons for lifting the pre -imposed restrictions, while emphasizing the importance of transparency and accountability in corporate governance.

The restrictions imposed on Jenusol and the Gajji brothers are subject to any other orders from the competent court or the court that oversees the insolvency of Jennsol. This step reflects Sebi’s commitment to ensure accountability, transparency in financial operations and governance in public.

It is expected that the continuous investigation and forensic review will light the extent of financial misconduct in Gensol and its subsidiaries. These measures are vital to protecting investor interests and maintaining confidence in the financial system.