Gensol Engineering Shares Plunge 94% From Peak; Top Executives Resign Following SEBI Intervention
Gensol Engineering shares were down by 5% as it hit the lower circuit limit for the day.
Gensol Engineering Shares Plunge 94% From Peak; Top Executives Resign Following SEBI Intervention
Gensol Engineering Shares Plunge 94% From Peak; Top Executives Resign Following SEBI Intervention
Gensol Engineering shares were down by 5% as it hit the lower circuit limit for the day.
On Monday, Anmol Singh Jaggi, Managing Director of the crisis-hit company, along with Puneet Singh Jaggi, the whole-time director, resigned from their respective positions.
“I declare that I am resigning due to the direction given under SEBI Interim Order dated April 15, 2025. I take this opportunity to thank the entire Board, the Management Team and the employees of the Company for the support and cooperation extended to me during my tenure,” Anmol Jaggi said in his resignation mail.
Securities and Exchange Board of India (SEBI) took strict measures against Gensol by barring the Jaggi brothers from capital market access until further notice.
Shares of Gensol Engineering are presently trading at ₹51.25, down from ₹1,124 last year. The stock has lost 94% of its value this year after the company's lapses were brought to light.
