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 amidst allegations of misconduct. This 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 evaluate the companies’ adherence to regulations, with any identified irregularities potentially resulting in disciplinary measures and reporting to relevant regulatory bodies. Concurrently, the Ministry of Corporate Affairs is contemplating further steps against Gensol in light of these developments.