NEW DELHI: Corporate Affairs Ministry (MCA) on Monday said it will take necessary action in the Gensol Engineering matter after examining Sebi’s order against the company. Last week, Sebi barred Gensol’s promoters Anmol Singh Jaggi and Puneet Singh Jaggi from the securities market for various violations. Order came amid accusations of siphoning off loan funds from their listed company Gensol Engineering for personal use, raising concerns over corporate governance and financial misconduct. MCA said its is examining Sebi order in light of provisions of the Companies Act, 2013. “Necessary action would be taken accordingly,” the ministry said.
