The Institute of Chartered Accountants of India (ICAI) is set to scrutinize the financial statements of Gensol Engineering and BluSmart Mobility for the fiscal year 2023-24 following allegations of misconduct. This development comes in the wake of the Securities and Exchange Board of India (SEBI) imposing a market ban on Gensol’s promoters over accusations of fund diversion. The Financial Reporting Review Board (FRRB) will evaluate the companies’ adherence to regulatory norms, and any discrepancies discovered could result in disciplinary measures and possible reporting to the relevant authorities. Additionally, the Ministry of Corporate Affairs is contemplating further action against Gensol in light of these allegations.