Gensol director Arun Menon resigns amid Sebi crackdown

Arun Menon, an independent director with Gensol Engineering Ltd (GEL), has resigned, the company informed the exchanges on Wednesday. Promoters Anmol Singh Jaggi and Puneet Singh Jaggi have also stepped down following a regulatory order. Menon’s resignation came into effect on Tuesday, the exchange filing read.

In his resignation letter, addressed to the Jaggi brothers and other independent directors (Kuljit Popli, Harsh Singh and Vibhuti Patel) Menon said that he had offered to help the company reduce its interest cost through the debt restructuring…