Gensol News: Big news from the government on the investigation of Gensol, stock rises:

News Topical, Digital Desk : Gensol News: According to sources from the Ministry of Corporate Affairs (MCA), the ongoing investigation on Gensol company is likely to be completed within the next 3 to 5 months. Apart from Gensol, 18 other companies are also being investigated in this case.

Sources say that if MCA finds sufficient evidence in the investigation, then there will be no need to send the matter to SFIO (Serious Fraud Investigation Office). In such a situation, MCA is capable of taking action on its own.

NFRA Chairman's statement In the case of Gensol Enginnering, NFRA has sent a notice and is investigating. When SEBI passed the order, it had referred the auditor's investigation to NFRA. A complaint had come for investigation on Quick Commerce which the commission is currently looking into. A complaint was made on Quick Commerce regarding predatory pricing. CCI has changed the rules for recovery of penalty. Now, along with sending notice, recovery notice will also be sent so that if a stay is not obtained from the court, the companies will have to pay the penalty along with interest. Regarding the investigation on the ad agency, he only said that we had asked DG Investigation to investigate and DG Investigation is investigating

Insolvency and Bankruptcy Code Meanwhile, a big update has also come regarding IBC (Insolvency and Bankruptcy Code). MCA is now preparing to eliminate the obligation of taking permission from CCI (Competition Commission of India) for approval of the resolution plan under IBC. For this, there is a plan to bring amendment in Section 31(4) of IBC, which can be introduced in Parliament in the upcoming monsoon session. It is worth noting that recently in the AGI Greenpact-HNGIL case, the Supreme Court had rejected the resolution plan citing Section 31(4), making this amendment even more important. These potential changes are expected to speed up the corporate resolution process.

Shares of Gensol Engineering Ltd rose 2% Shares of Gensol Engineering Ltd saw a slight rise on Monday. The stock of the company was trading at ₹ 70.99 on BSE with a gain of 2%, which was also its highest level of the day. During this period, the stock recorded a total trading volume of 3.40 lakh shares and turnover of ₹ 2.41 crore. The company's 52-week high was ₹ 1,125.75 while the lowest was ₹ 51.84. Currently, the market cap of the company is ₹ 269.78 crore. Gensol, listed in the BSE Smallcap Index, comes under 'ESM Stage 2' and its PE ratio is 2.12.