SAT rejects Gensol Engineering's plea to stay SEBI order

The Securities Appellate Tribunal (SAT) rejected the appeal filed by Gensol Engineering to stay SEBI's April 15 order. The order bars Gensol and its promoters from the securities market as they are accused of fund diversion and governance concerns. Gensol had urged SAT to remove the freeze on its demat account so that it could sell shares of its subsidiaries.