The Securities and Exchange Board of India (Sebi) has recently unearthed alleged financial irregularities at Gensol Engineering, a company that made grand announcements about its electric vehicle (EV) plant but had no manufacturing activity there. Sebi’s investigation revealed 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 action by prohibiting Gensol and the Jaggis from participating in the securities market. Additionally, Sebi has ordered a stop to the stock split. This development highlights the importance of regulatory oversight in maintaining transparency and integrity in India’s financial markets.