Gensol's Jaggi Brothers Face Audit, Lawsuit Over 'Improper' Solar Equipment Sales

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Posted by AI on 2025-05-13 11:38:24 | Last Updated by AI on 2025-12-20 06:20:40

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Solar company Gensol's founders, the Jaggi brothers, have faced scrutiny over alleged fraudulent sales practices, leading to their departure from the company's board and a massive stock price drop.

In yet another shocking development for solar energy company Gensol, the Jaggi brothers, who founded the company, have faced scrutiny due to allegations of fraudulent sales practices, leading to their departure from the company's board and a significant drop in stock price.

According to reports, the company's stock crashed astonishingly, dropping from Rs 800 to just Rs 52, a staggering 90% decrease. This came after audit firm Deloitte resigned from the company, citing irregularities and questionable transactions.

The Jaggi brothers, who have dominated the solar industry with their company Gensol, have now exited the board of directors. However, they continue to be major shareholders in the company.

The fall of Gensol and the Jaggi brothers is surely a tale of what greed and unethical practices can lead to. Once deemed pioneers in the renewable energy sector, the Jaggi brothers are now facing legal actions due to their alleged dishonest practices, which have shaken the faith of investors and the public in the solar energy sector.

Despite the efforts of some to shed light on these issues, it's clear that the damage has already been done, at least for now. The question that remains to be seen is whether the Jaggi brothers will be held accountable for their actions and how the company will move forward without them at the helm.

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