Gensol Engineering Ltd.'s share price fell to an all-time low level on Wednesday as the stock hit the 5% lower circuit limit after SEBI barred the company's promoters for alleged fund diversion and record falsification.
SEBI has prohibited the Jaggi brothers from holding any key managerial positions within the company, effectively removing them from their leadership roles.
SEBI has directed the appointment of a forensic auditor to thoroughly examine Gensol's books of accounts and those of related parties in order to uncover any further irregularities and ensure transparency in the company's financial dealings.
Gensol Engineering share price is trading at an all-time low at Rs 122.68 apiece, representing a 5% decline. The stock split announced by Gensol has also been halted by SEBI, impacting investor sentiment.