We welcome you to the Fiftieth edition of DevMantra Times for the month of May 2025. This newsletter highlights key updates. SEBI has streamlined its forensic audit panel, while ICAI will be scrutinizing financial statements of companies like Gensol Engineering and BluSmart Mobility amid governance concerns. The escalating tariff war has raised alarms over Rs 21,800 crore in loans to MSMEs and mid-corporates, signaling vulnerabilities in the market.
ICAI to review financial statements of crisis-hit Gensol Engg, BluSmart Mobility: ICAI will scrutinize the financial statements of Gensol Engineering and BluSmart Mobility for fiscal year 2023-24, prompted by concerns over alleged fund diversions and governance lapses at Gensol. SEBI has already barred Gensol's promoters from the securities market.
