Gensol Eng tanks 5 pc hits lower circuit limit as Sebi bans firm promoters from securities market
New Delhi, Apr 16 (PTI): Shares of Gensol Engineering tumbled 5 per cent to hit the lower circuit limit on Wednesday after markets regulator Sebi barred the firm and its promoters -- Anmol Singh Jaggi and Puneet Singh Jaggi -- from securities markets till further orders in a fund diversion and governance lapses case.
The stock dropped 4.99 per cent to Rs 123.65 -- the lower circuit limit -- on the BSE.
At the NSE, shares of the firm tanked 5 per cent to Rs 122.68 -- the lowest trading permissible limit for the day.
The regulator has also debarred Anmol and Puneet Singh Jaggi from holding the position of a director or key managerial personnel in Gensol until further orders.
Further, the markets watchdog directed Gensol Engineering Ltd (GEL) to put on hold the stock split announced by it.
The order came after the Securities and Exchange Board of India (Sebi) received a complaint in June 2024 relating to the manipulation of share price and diversion of funds from GEL and thereafter started examining the matter.
In a 29-page interim order, Sebi said on Tuesday, "The prima facie findings have shown mis-utilisation and diversion of funds of the company (GEL) in a fraudulent manner by its promoter directors, Anmol Singh Jaggi and Puneet Singh Jaggi, who are also the direct beneficiaries of the diverted funds".
"The company has attempted to mislead Sebi, the CRAs (credit rating agencies), the lenders and the investors by submitting forged conduct letters purportedly issued by its lenders," the regulator said.
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KSRTC to run 1000 special services to clear Christmas rush
Bengaluru: The Karnataka State Road Transport Corporation will operate 1000 additional special services in view of the Christmas festival.
In addition to the existing schedule, the special services will run on 19.12.2025, 20.12.2025 and 24.12.2025. Further, special buses will be operated from various places of intra & Interstate places to Bengaluru on 26.12.2025 & 28.12.2025.
Special buses will be exclusively operated from Bengaluru Kempegowda Bus Station to Dharmastala, Kukkesubramanya, Shivamogga, Hassan, Mangaluru, Kundapura, Shringeri, Horanadu, Davangere, Hubbali, Dharwad, Belagavi, Vijayapura, Gokarna, Sirsi, Karwar, Raichur, Kalaburagi, Ballari, Koppala, Yadgir, Bidar, Tirupathi, Vijayawada, Hyderabad and other places.
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Special buses from Mysuru Road Bus Station will be exclusively operated towards Mysuru, Hunsur, Piriyapatna, Virajpet, Kushalanagar, Madikeri.
The corporation has also announced a discount of 5 per cent on the fare if four or more passengers book tickets under a single reservation. A discount of 10 per cent will be extended on return journey tickets if onward and return tickets are booked simultaneously.
In addition to the above, special buses will be operated from all Taluk/District Bus Stands in the jurisdiction of KSRTC based on the traffic needs.
