New Delhi, March 7 -- Even after correcting 35% over the last three trading sessions, the decline in Gensol Engineering shares extended into Friday's trade on March 7, falling another 8.2% to hit an all-time low of Rs.307, bringing the four-day cumulative drop to 40.50%.

Today's decline followed the company's announcement that its Chief Financial Officer (CFO) and Key Managerial Personnel (KMP), Ankit Jain, had resigned with immediate effect. This resignation comes at a time when the company is facing ongoing delays in servicing its term loan obligations and allegations of falsifying debt servicing documents, which have led to credit rating downgrades from ICRA and CARE.

In a filing to the exchanges on Thursday, the company stated that ...