The Securities and Exchange Board of India (Sebi) has recently revealed alleged financial irregularities at Gensol Engineering, a company that made grand announcements about its electric vehicle (EV) plant but reportedly had no manufacturing activity there. Sebi’s investigation found discrepancies in pre-orders, suspicious transactions, and fund diversion by the promoter directors Anmol and Puneet Singh Jaggi. As a result, Sebi has taken strict actions by barring Gensol Engineering and the Jaggis from the securities market. Additionally, Sebi has directed a halt to the stock split. This development comes as a significant blow to the company and its promoters, highlighting the importance of regulatory oversight in maintaining transparency and integrity in India’s financial markets.