The Institute of Chartered Accountants of India (ICAI) is set to scrutinize the financial statements of Gensol Engineering and BluSmart Mobility for the fiscal year 2024 amid allegations of misconduct. The move comes in the wake of the Securities and Exchange Board of India (SEBI) imposing a market ban on Gensol’s promoters over accusations of fund diversion. The Financial Reporting Review Board (FRRB) will examine the companies’ adherence to regulations, with any irregularities potentially resulting in disciplinary measures and possible reporting to regulatory bodies. Additionally, the Ministry of Corporate Affairs is contemplating further steps against Gensol in light of the allegations.