Arun Menon, independent director of the Gensol de Estafa Engineering Board (GEL), has resigned with immediate effect, the company said in an exchange presentation.
The presentation showed that the resignation was presented by Menon on April 15, in which he had written directly to one of the promoters Anmol Jaggi, expressing his about the increase in the growing position of the company’s debt.
On Tuesday, Sebi issued a provisional order against the company and its promoters, leaving them from the stock markets, except for the promoters of any key management position in the company after their investigations revealed deviations or fraud of broad funds.
Expression concern
Going to Jaggi, Menon wrote: “I would like to take him back last year, July / August 2024, when I tried He requested the CFO, which always seems to me, what it seems.
Feeling that it was an attached value to the company, Menon said he had expressed a wish last year to resign, but that he had been persuaded to remain until the OPI or Matrix Gas & Renewables was successful.
He added that his current employment restricted the role of independent director in companies. “Taking into account the aforementioned reasons, I would like to present my resignation of my role as independent GEL director with immediate effect.”
Posted on April 17, 2025
