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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Azim Premji Foundation Scholarship: How to apply, when to apply; details here
Bengaluru: The Azim Premji Foundation has announced the Azim Premji Scholarship for the academic year 2025–26, aimed at supporting up to 2.5 lakh girls across 18 Indian states who are pursuing higher education after completing school. An official release from the foundation also stated that in the coming years the scholarship will be implemented across the country.
When to Apply:
According to a release from the foundation, the application process for the Azim Premji Scholarship 2025–26 will commence in September 2025. “Details of the program and any changes in the program design or coverage will be notified at the start of the application process,” the release added.
Where to Apply:
According to the release, the scholarship this year will be implemented across 18 states, namely Arunachal Pradesh, Assam, Bihar, Chhattisgarh, Jharkhand, Karnataka, Madhya Pradesh, Manipur, Meghalaya, Mizoram, Nagaland, Odisha, Rajasthan, Sikkim, Telangana, Tripura, Uttar Pradesh, and Uttarakhand. Students residing in these states and enrolled in recognised higher education institutions will be eligible to apply.
How to Apply:
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Girls who have completed their Class 10 and 12 education in government (public) schools and have secured admission in a bona fide higher education institution either a government-run college/university or select private institutions can apply for the scholarship.
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Once the application portal opens in September, students will be required to submit personal details, educational qualifications, proof of admission, and bank account information.
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The scholarship amount ₹30,000 per year will be transferred directly into the students' bank accounts in two instalments each academic year, read the release.
