The Securities and Exchange Board of India (Sebi) has recently revealed alleged financial discrepancies at Gensol Engineering, a company known for its electric vehicle (EV) plant. Despite making significant announcements, Sebi’s investigation discovered that there was no manufacturing activity taking place at the EV plant. The regulatory body found irregularities in pre-orders, questionable transactions, and funds being diverted by the company’s promoter directors Anmol and Puneet Singh Jaggi. As a result of these findings, Sebi has taken strict action by prohibiting Gensol Engineering and the Jaggis from participating in the securities market. Additionally, Sebi has issued a directive to halt the stock split. This development underscores the importance of regulatory oversight in maintaining the integrity of the financial markets in India.