SFIO can also investigate case if serious disturbances are found
A recent update has come on the Jansol engineering case. Now the government will soon initiate further action in this whole matter. The Ministry of Corporate Affairs, Government of India gave this information on Monday. The ministry said that they will take necessary action after reviewing SEBI’s order in this entire matter. The Securities and Exchange Board of India (SEBI) last week banned the company’s promoter brothers- Anmol Singh Jaggi and Puneet Singh Jaggi from the Security Market for violating different cases. The order has come publicly amid allegations of the list company Jansol Engineering out of the allegations of removing the loan amount for personal use, which expressed concern over corporate administration and financial misconduct.
SFIO can also investigate case if serious disturbances are found
The Ministry of Corporate Affairs (MCA) when contacted, told PTI that they were reviewing SEBI’s order in view of the provisions of the Companies Act, 2013. The ministry said, “Necessary action will be taken after this.” In addition to the Companies Act, 2013, the company’s books can be inspected by the Company Registrar (ROC) and if any major financial disturbances are found, the serious fraud investigation office (SFIO) can investigate the case.
The process of devastating decline in Jansol shares continues
Let us tell you that since the company’s fraud was exposed, its shares continue to fall. On the first day of the week on Monday, Jansol shares were once again victims of lower circuit under heavy selling pressure. As soon as trading started on BSE, the company’s shares closed at Rs 111.65 with a lower circuit of 4.98% (Rs 5.85). Let us tell you that this is a fresh 52 weeks of the company’s shares. Its 52 week high is Rs 1125.75. Due to the promoters of the company, the shareholders of Jansol Engineering are suffering huge losses.
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