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Markets regulator Sebi has said it found "no manufacturing activity" at Gensol Engineering's electric vehicle (EV) plant in Pune with only 2-3 labourers present when a National Stock Exchange (NSE) official visited the site. These revelations were part of markets regulator Sebi's interim order issued on April 15 following a complaint received in June 2024 alleging manipulation of Gensol's share price and misappropriation of funds. In its order, the Securities and Exchange Board of India (Sebi) found discrepancies as well as misleading disclosures to investors by Gensol Engineering, a company promoted by brothers Anmol Singh Jaggi and Puneet Singh Jaggi. One of the disclosures came from an investigation conducted by the NSE, which revealed a lack of manufacturing activity at Gensol's EV plant -- Gensol Electric Vehicle Private Ltd -- at Chakan in Pune. During a site visit to the facility on April 9, an NSE official found only 2-3 labourers present. "It was found that there was no .

India Policy and Reforms

TREND | 20 Apr 2025

GENtlemen, SOLve This Mess You've Created

NDTV Profit

While SEBI probes Gensol for share manipulation and fund diversion, scrutiny also turns to public sector lenders like IREDA and PFC that disbursed large sums with limited oversight.

India Policy and Reforms

TREND | 20 Apr 2025

Japan to stress 'fairness' in currency talks with US, says PM Ishiba

Business Standard

Ishiba said specific discussions on currency policy will be made between Finance Minister Katsunobu Kato and Treasury Secretary Scott Bessent

India Policy and Reforms

TREND | 19 Apr 2025

FM Sitharaman to attend G20, IMF-World Bank meets during US, Peru visit

Business Standard

Finance Minister Nirmala Sitharaman will participate in G20 meetings and attend Spring Meetings of the IMF-World Bank, among other bilateral engagements, during an 11-day official trip to the US and Peru, the finance ministry said on Saturday. Sitharaman is leaving for the official trip on Saturday night. The finance minister will also interact with top CEOs from prominent fund management firms during a Roundtable meeting with investors, besides holding bilateral meetings with CEOs from top information technology (IT) firms based in San Francisco. As part of the US visit, she would land in San Francisco to deliver a keynote address at the Hoover Institution at the Stanford University on April 20. Sitharaman will also participate in an event featuring Indian diaspora in San Francisco and interact with the Indian community settled there, the finance ministry said in a statement. During her visit to Washington, USA, from April 22-25, Sitharaman will participate in the Spring Meetings

India Policy and Reforms

TREND | 19 Apr 2025

Arvind Shrivastava named revenue secretary in major FinMin rejig

Business Standard

With the appointment of four new secretaries, the Finance Ministry has, in recent months, witnessed an unusually high frequency of changes at the top bureaucratic level

FinMin pushes banks to boost farm loans against e-warehouse receipts

Business Standard | 18 Apr 2025 2 more

India Policy and Reforms

TREND | 18 Apr 2025

Reports of Farooq Abdullah backing Article 370 'absolute nonsense': Dulat

Business Standard

Former RAW chief A S Dulat on Friday vehemently refuted claims suggesting that former Jammu and Kashmir chief minister Farooq Abdullah privately supported the abrogation of Article 370 of the Constitution, dismissing those as "absolute nonsense". Speaking at the launch of his book titled 'The Chief Minister and the Spy' here, he addressed the controversy that erupted following media reports that Abdullah had "privately" suggested that he would have helped in the abrogation of Article 370 in 2019 had he been taken into confidence. Dulat asserted that "there was not a single Kashmiri who spoke in favour of the abrogation." He cited former Finance Minister P Chidambaram's description of the move as a "monumental blunder," emphasising the widespread opposition within the region. Dulat, the former head of the Research and Analysis Wing (RAW), the external intelligence agency of the country, detailed his meeting with Abdullah following his release from detention in February 2020. "I cou

India Policy and Reforms

TREND | 18 Apr 2025

FM Sitharaman To Review Progress Of 'One State - One Regional Rural Bank' On May 6

NDTV Profit

New Delhi, Apr 18 (PTI) Finance Minister Nirmala Sitharaman is likely to review the implementation and progress of 'One state-one RRB' on May 6.

Sitharaman to assess RRB consolidation as 'One state-one RRB' takes effect

Business Standard | 18 Apr 2025