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 taking place there. Sebi’s investigation exposed 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 barring Gensol Engineering and the Jaggis from the securities market. Additionally, Sebi has directed a stop to the stock split. This move by Sebi underscores the importance of maintaining transparency and integrity in the financial markets.