Corp affairs ministry orders probe against Gensol Engineering, BluSmart

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Corp affairs ministry orders probe against Gensol Engineering, BluSmart - Business Standard

Quick Summary:

Gensol Engineering came under the regulatory scanner for alleged fund diversions and corporate governance lapses after Sebi, in April, passed an order barring the company's promoters Anmol Singh Jaggi and Puneet Singh Jaggi from the securities market for various violations.

The corporate affairs ministry has ordered a probe into the affairs of crisis-hit Gensol Engineering and BluSmart Mobility for alleged violations of companies law, according to officials.

Under Section 210, the ministry has powers to order a probe into the affairs of a company on various grounds, including in public interest.