New Delhi, April 16 -- The Securities and Exchange Board of India (Sebi)issued an interim order on Tuesday against Gensol Engineering and its promoters, Anmol Singh Jaggi and Puneet Singh Jaggi. The order pointed out several governance issues and misappropriation of funds, including DLF's purchase of a luxurious residential apartment, 'The Camellias' in Gurgaon.

Funds were sent to a firm linked to the promoter via a series of transactions through a car dealer, which was later used to pay for the luxurious property, according to the Sebi order.

Gensol Engineering took a loan of Rs.71.41 crore from IREDA and transferred Rs.26 crore from its own account. These funds, worth Rs.97 crore, were later transferred to Go-Auto, a car dealership fi...