Gensol Engineering independent director Arun Menon resigns

i Gensol Engineering’s independent director Arun Menon has resigned saying there was growing concern on leveraging its balance sheet to fund capex of other businesses and sustainability of servicing such high debt costs by the company.

Mr. Menon’s resignation came a day after Sebi on Tuesday (April 16, 2025) barred Gensol Engineering and its promoters— Anmol Singh Jaggi and Puneet Singh Jaggi— from the securities markets till further orders in a fund diversion and governance lapses case.

Mr. Menon has tendered his resignation as the independent director of the company, with immediate effect, GEL said in a regulatory filing on Wednesday (April 17, 2025).

“Consequently, he shall also cease to be a member of various committees of the company,” it stated.