Crisis Unfolds at Gensol Engineering: CFO Aga Resigns Amidst Regulatory Storm
Gensol Engineering faces turmoil after CFO Jabirmahendi Mohammedraza Aga quits, following earlier resignations by key promoters. Ongoing regulatory investigations into fund diversion and governance lapses pressurize the company, impacting staff mental health and organizational structure. Anmol and Puneet Singh Jaggi are barred from any directorial roles by Sebi.
- Country:
- India
Amidst ongoing investigations and management upheaval, Gensol Engineering's financial officer, Jabirmahendi Mohammedraza Aga, has stepped down. This follows the exit of promoters Anmol and Puneet Singh Jaggi under the weight of scrutiny.
In his resignation, Aga highlighted the regulatory challenges facing the firm, which have been compounded by organizational disarray and pressure affecting employee well-being and productivity.
The Securities and Exchange Board of India's probes into fund diversion and governance lapses led to restrictions on the Jaggi brothers from directorial positions and halted Gensol's stock split plans.
(With inputs from agencies.)
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