The Securities and Exchange Board of India (Sebi) has unearthed purported financial discrepancies at Gensol Engineering, casting doubts on the company’s operations, particularly its electric vehicle (EV) manufacturing plant. Despite significant public announcements, Sebi’s investigation revealed a lack of manufacturing activities at the plant. The regulatory body also discovered irregularities in pre-orders, questionable transactions, and alleged fund diversions by the company’s promoter directors, Anmol and Puneet Singh Jaggi. In response to these findings, Sebi has taken strict action by prohibiting Gensol Engineering and the Jaggi brothers from participating in the securities market. Additionally, Sebi has issued directives to halt the stock split proposed by the company. This development raises concerns about corporate governance and transparency within Gensol Engineering, prompting regulatory intervention to safeguard investor interests and market integrity.