Chartered accountants' apex body ICAI is likely to complete the review of the financial statements of crisis-hit Gensol Engineering Ltd and BluSmart Mobility in six months, according to officials.
ICAI's Financial Reporting Review Board (FRRB) is reviewing the financial statements of the two companies for the financial year 2023-24.
Institute of Chartered Accountants of India (ICAI) officials on Saturday said the review of the financial statements is expected to be completed in six months.
Gensol Engineering has come under the regulatory scanner for alleged fund diversions and governance lapses, with regulator Sebi, last week, barring the company's promoters Anmol Singh Jaggi and Puneet Singh Jaggi from the securities market for various violations. BluSmart Mobility, which offers ride-hailing services, is promoted by Anmol Singh Jaggi.
FRRB conducts the review of financial statements of companies to assess compliance with Accounting Standards, Standards on Auditing, Schedule II and