Gensol’s Top Finance Boss Resigns – Here’s Why It’s Raising Eyebrows
The Chief Financial Officer (CFO) of Gensol Engineering, Jabirmahendi Aga, has suddenly resigned from the company. And he hasn’t left quietly — he’s pointed to ongoing investigations and regulatory troubles as the main reasons for stepping down.
This news has left investors and employees both surprised and concerned, especially since Gensol is already facing a rough patch.
What’s Going On at Gensol?
Gensol Engineering is a well-known company in the renewable energy space. But recently, it’s been in the headlines for all the wrong reasons.
India’s market regulator, SEBI, has been keeping a close watch on Gensol. In April, SEBI issued an order that raised serious questions about how the company was being run. It accused Gensol of breaking some important rules, possibly moving money around in shady ways, and not being honest with shareholders.
As a result, SEBI stopped the company from raising money through the stock market, blocked its planned stock split, and ordered a detailed investigation into its finances. This meant a lot of pressure on the company’s management.
CFO Throws in the Towel
Jabirmahendi Aga had been with Gensol for over 14 years. So, for someone so senior to resign suddenly, it says a lot. In his resignation letter, he made it clear that he couldn’t continue working while the company was dealing with so many internal and external problems.
It’s not just Aga who has left. Just a few days earlier, the company’s promoters — basically, the top two people who built and ran Gensol — also resigned from their roles. They were asked to step down because of SEBI’s orders.
So, in less than a week, Gensol has lost its CFO and both of its top bosses. That’s a big shake-up for any company.
Money Problems Adding to the Fire
Apart from the regulatory issues, Gensol is also dealing with financial troubles. It has a debt of over ₹1,100 crore. While the company tried to cut some of that by selling off nearly 3,000 electric vehicles and even one of its own subsidiaries, the debt burden is still huge.
To make things worse, credit agencies like ICRA and CARE downgraded Gensol’s ratings recently. They even mentioned that some of the financial documents provided by the company may not have been accurate — especially the ones that showed how it was repaying its loans. That’s a big red flag.
So, What Happens Now?
With so many key people stepping down and investigations going on, Gensol has a long road ahead. SEBI’s forensic audit (a deep dive into its finances) will reveal more details, and depending on what they find, there could be further action taken.
The company now needs to not only fix its internal problems but also win back the trust of its investors, lenders, and employees. That won’t be easy — but it’s the only way forward if Gensol wants to survive and grow again.
