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 in the wake of misconduct accusations. The move comes after the Securities and Exchange Board of India (SEBI) imposed a market prohibition on Gensol’s founders for alleged fund diversion. The Financial Reporting Review Board (FRRB) will examine adherence to regulations, with any anomalies potentially resulting in punitive measures and reporting to relevant regulatory bodies. Concurrently, the Ministry of Corporate Affairs is contemplating measures against Gensol in response to the situation.