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SEBI Upholds Security Market Ban On Gensol’s Jaggi Brothers
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SUMMARY
SEBI has upheld its interim direction barring the brothers from holding the position of director or key managerial personnel of the troubled company, which is a related entity of ride-hailing startup BluSmart
After SEBI released the interim order on April 15, Gensol unsuccessfully moved the SAT, filing a plea on May 7
The interim order triggered a crisis for Gensol, which is under bankruptcy proceedings. BluSmart, too, is undergoing insolvency proceedings now
About three months after issuing an interim order in the…
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