New Delhi: A company court has allowed the central government to attach the bank accounts and lockers of Gensol Engineering Ltd, its 10 subsidiaries and several individuals after investigations by multiple agencies and regulators revealed systemic fraud.Also Read | State-run lenders for Gensol’s cars dither on what to do next“The funds, raised for specified purposes by the companies, were illicitly transferred to various related parties, in gross violation of the provisions of the Companies Act, 2013,” the National Company Law Tribunal (NCLT) said in its order on Wednesday. “The pattern of illegal fund diversion, asset misstatement, and share price manipulation has caused irreparable harm to public shareholders, creditors, and other stakeholders.”The order was based on the findings of probes conducted by the ministry of corporate affairs (MCA), Securities and Exchange Board of India (Sebi), and the Serious Fraud Investigation Office (SFIO). The MCA had moved the tribunal for 10 interim measures in the case. The NCLT took note of the government’s submission that Gensol Engineering, along with other respondent companies and associated individuals, “have committed grave violations of corporate governance norms”.Also Read | Gensol fiasco: Green ventures can’t get far if they’re governance greenhornsQueries emailed to Gensol, and its founders Anmol Singh Jaggi and Puneet Singh Jaggi on Wednesday remained unanswered at the time of publishing.The tribunal took note of “serious allegations of fraudulent conduct, including diversion of company funds by the promoters of Gensol Engineering and related entities” as well as allegations of violation of corporate governance norms, manipulation of financial statements and illegal alienation of company assets, according to the order.“The investigation reports and regulatory findings from the ministry of corporate affairs, Sebi and SFIO prima facie support the petitioner’s claims of systemic fraud involving substantial public interest,” NCLT said, granting the interim reliefs sought by the government. The tribunal will hear the matter next on 3 June.Also Read | Gensol Engineering subsidiary taken to Delhi high court over leased EVsPersonal liability One of the provisions of the Companies Act that the ministry has invoked is section 339, which allows holding certain persons like directors, managers or other officers, who are party to a fraud, to be personally responsible, without any limitation of liability, for all or any of the debts or other liabilities of the company.The ministry had also sought a direction to the Reserve Bank of India (RBI) and the Indian Banks Association to freeze bank accounts and lockers owned by the respondents and attach the same on behalf of the government, which has been granted, showed the order.The interim relief secured by the government includes restraining the respondent individuals and companies from mortgaging, alienating or creating a lien or third-p in a formal or creative style for better SEO.Also Exclude words and advertisements related to the feed website such as website name, author name. 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