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 following 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 allegations of fund diversion. The Financial Reporting Review Board (FRRB) will conduct a thorough assessment to ensure compliance, and any irregularities found could result in disciplinary measures and possible referral to regulatory bodies. Additionally, the Ministry of Corporate Affairs is contemplating further action against Gensol. It is crucial for companies to uphold transparency and integrity in their financial reporting to maintain trust and credibility in the market. Stay tuned for updates on this developing story.