Gensol Engineering: Promoters Used Company Funds for Personal Expenses

SEBI (Securities and Exchange Board of India) has barred Gensol Engineering’s promoters from board roles and market access due to the misuse of ₹262 crore in term loans meant for electric vehicle purchases. Funds were allegedly routed for personal use, including luxury assets. The regulator also paused the company’s planned 1:10 stock split. This governance crisis may severely impact investor confidence and pressure the stock market soon.