Friday, August 1, 2025

Creating liberating content

Pityush Goyal (File photo) NEW DELHI: Amid Donald Trump’s offensive,

Representational image (Agencies) MUMBAI: Nuvama Wealth Management said on Thursday

The Trump administration has sanctioned six Indian companies for their

Related News

It’s raining NFOs in the monsoon. At least 10 new mutual fund schemes are slated for launch this month. (AI image) Mumbai: It’s raining NFOs in the monsoon. At least

Pityush Goyal (File photo) NEW DELHI: Amid Donald Trump’s offensive, the government on Thursday dug its heels in on trade, saying it will not compromise on the interests of farmers.Commerce

Representational image (Agencies) MUMBAI: Nuvama Wealth Management said on Thursday that an I-T department survey is ongoing at its registered office, and the company is cooperating with authorities. Business operations

The Trump administration has sanctioned six Indian companies for their “significant” sales and purchases of Iranian-origin petrochemical products.“The Iranian regime continues to fuel conflict in Middle East to fund its

MUMBAI: HUL reported a 4% year-on-year rise in total sales to Rs 15,747 crore on a standalone basis in the June quarter, improving its pace of growth which had been

MUMBAI: In an unusual turn, Indian banks extended more credit for automobile purchases than for housing in the first quarter of FY26, highlighting a shift in consumer demand and lending

Trending News

It’s raining NFOs in the monsoon. At least 10 new mutual fund schemes are slated for launch this month. (AI image) Mumbai: It’s raining NFOs in the monsoon. At least

Pityush Goyal (File photo) NEW DELHI: Amid Donald Trump’s offensive, the government on Thursday dug its heels in on trade, saying it will not compromise on the interests of farmers.Commerce

The Trump administration has sanctioned six Indian companies for their “significant” sales and purchases of Iranian-origin petrochemical products.“The Iranian regime continues to fuel conflict in Middle East to fund its

MUMBAI: In an unusual turn, Indian banks extended more credit for automobile purchases than for housing in the first quarter of FY26, highlighting a shift in consumer demand and lending

NEW DELHI: Google has proposed opening up the Play Store in India to a wider set of real-money gaming (RMG) apps in response to an ongoing probe by the Competition

NEW DELHI: Despite pressure from the US, govt has dismissed reports that it has asked refiners to stop purchasing Russian crude, which has emerged as the top source of petroleum

ICAI to review Gensol and BluSmart financial statements

Word Count: 633 | Estimated Reading Time: 4 minutes


ICAI to review Gensol and BluSmart financial statements

The Institute of Chartered Accountants of India (ICAI) has decided to review the financial statements of Gensol Engineering Ltd and BluSmart Mobility Pvt Ltd for the financial year 2023–24, following serious allegations of financial misconduct and governance lapses involving the two companies.
The move was confirmed by ICAI president Charanjot Singh Nanda, who said the decision was taken during a board meeting of the Financial Reporting Review Board (FRRB) on Wednesday.
Nanda told PTI that the FRRB decided to undertake a review of the financial statements and the statutory auditor’s report of Gensol Engineering and BluSmart Mobility for the financial year 2023-24.
The FRRB’s mandate includes assessing compliance with accounting standards, standards on auditing, and schedules II and III of the Companies Act, 2013. It also evaluates adherence to various guidance notes and RBI-issued master directions.
Gensol Engineering recently came under regulatory scrutiny after the Securities and Exchange Board of India (Sebi) issued a market ban on the company’s promoters, Anmol Singh Jaggi and Puneet Singh Jaggi. The order, issued on April 15, alleged that the promoters siphoned off loan funds from the publicly-listed firm for personal gain, raising serious concerns about corporate governance and potential financial misconduct.
BluSmart Mobility, which operates a ride-hailing service, is also promoted by Anmol Singh Jaggi.
In case the FRRB identifies significant accounting irregularities during its review, the matter will be referred to ICAI’s Director Discipline for a detailed investigation. The findings may also be shared with relevant regulatory authorities.
Meanwhile, the ministry of corporate affairs said on April 21 that it will consider taking appropriate action against Gensol Engineering after examining Sebi’s order.
Under the Companies Act, 2013, the ministry has powers to act on corporate violations, which may include inspections by the Registrar of Companies or a probe by the Serious Fraud Investigation Office (SFIO) in more serious cases.





Source link

Sign In

Welcome ! Log into Your Account