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Gensol sees 2 more independent directors exit
Gensol Engineering faces further turmoil as two more independent directors, Harsh Singh and Kuljit Singh Popli, resign amidst allegations of fund misuse. This follows Arun Menon's resignation, who cited concerns about the company's increasing debt burden to finance capital expenditures for other ventures and its ability to manage the associated high debt servicing costs.
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On Wednesday, Gensol Engineering's independent director, Arun Menon, resigned, saying there was growing concern on leveraging its balance sheet to fund the capex of other businesses and sustainability of servicing such high debt costs by the company.
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