Promoters of Gensol Engineering, Anmol Singh Jaggi and Puneet Singh Jaggi, have been barred by SEBI from securities markets until further orders due to fund diversion and governance lapses.
SEBI has also directed Gensol to suspend the stock split announced by the company.
Gensol Engineering's stock traded at ₹116.54, a decline of 5% on the NSE, and 4.97% to ₹117.50 on the BSE.
SEBI will appoint a forensic auditor to thoroughly examine the books of accounts of Gensol and its related entities, as per the interim order.