Sebi confirms ban on Gensol, Jaggi brothers in fund diversion case

Markets regulator Sebi on Wednesday upheld its interim order restraining Gensol Engineering and its former top executives Anmol Singh Jaggi and Puneet Singh Jaggi from the securities markets on concerns over fund diversion and corporate governance failures.

Additionally, the regulator said Jaggi brothers, also cofounders of EV ride-hailing firm BluSmart Mobility, would continue to be debarred from holding the position of a director or key managerial personnel in Gensol.

The final order comes as the company undergoes insolvency proceedings under the…