Gensol engineering: Anmol Singh Jaggi, managing director of Gensol Engineering, who is struggling with crisis, has resigned from his post on 12 May. This decision has come to light amidst strict action of SEBI regarding the company. Anmol Singh Jaggi wrote in his resignation, “I am resigning from the post of Managing Director of Jansol Engineering Limited on 12 May 2025. I am giving this resignation as per the interim order issued on 15 April 2025.
His brother Puneet Singh Jaggi has also resigned from the post of Holtime Director of the company.
SBI action and crisis roots
In an interim order issued by SEBI on 15 April, Jansol Engineering and its promoter Jaggi brothers were accused of serious lapse of governance. Due to this, SEBI banned the company and Jaggi brothers from any kind of activity in the security market. At the same time, Jaggi Brothers were prohibited from holding any director or prominent management in the company.
Jansol Engineering appealed to the Securities Appellate Tribunal (SAT) against SEBI’s order last week, but did not get any relief from there.
This year 93% broken share price
Meanwhile, Jansol Engineering shares continued to decline on Monday 12 May. The share price on NSE closed at Rs 53.95 by touching its 5 per cent lower circuit limit. For the last 22 days, this stock has been continuously looking at a lower circuit. So far this year, the company’s shares have fallen by about 93 percent.
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