Gensol Engineering’s chief financial officer (CFO), Jabirmahendi Mohammedraza Aga, resigned with immediate effect from his role, citing multiple regulatory investigations. The resignation of Aga follows the recent exits of the managing director of the company, Anmol Singh Jaggi, and the entire director, Puneet Singh Jaggi. In his letter of resignation of May 16 and addressed to the council’s board, Aga referred to the regulatory investigations and the departure of top executives as indicators of growing disorder within the organization. “The company is currently facing major challenges, with multiple regulatory bodies conducting investigations. As you know, the top management has already resigned from their respective roles. Furthermore, the unorganization of critical information about different departments impedes our ability to respond effectively to the continued inquiries as a result of a lack of a cohesive support system,” AGA said. “The tremendous pressure arising from these circumstances affects my physical and spiritual well -being, which leads to a full loss of focus on my responsibilities. Therefore, I made the difficult decision to resign and believe that it is in the best interests of the business under these difficult circumstances,” he added. On Friday, the share price of Gensol Engineering ended at 5% upper circuit on the BSE of £ 66.29. Disclaimer: The views and recommendations above are those of individual analysts or brokerage companies, and not of currency. We advise investors to check with certified experts before making investment decisions.
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