How? Gensol received a loan from IREDA and transferred funds to Go-Auto. Go-Auto then transferred Rs 50 crore to Capbridge Ventures LLP, where Gensol's promoters are designated partners. Subsequently, Capbridge paid Rs 42.94 crore to DLF Limited for an apartment initially booked by Anmol Singh Jaggi's mother, with the initial booking amount also originating from Gensol.
The apartment was later allotted to Capbridge.
In light of these prima facie findings, SEBI has issued interim directions, including restraining the promoter directors from holding key positions in Gensol and from dealing in securities, and directing Gensol to put on hold its announced stock split.
SEBI has also decided to appoint a forensic auditor to further examine the books of accounts of Gensol and its related parties.
Story: https://lnkd.in/gh4mvcyZ
bluesmart corporategovernance mobility gensol sebi
This post was originally shared by on Linkedin.