We welcome you to the Fiftieth edition of DevMantra Times for the month of May 2025. This newsletter highlights key updates, In recent developments across various sectors, several key business and regulatory updates have emerged that reflect shifting strategies and potential impacts on the market.
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. Meanwhile, Tesla’s refund of reservation fees and plans for a market entry in India indicate a strategic shift following ongoing trade negotiations.
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. The review aims to assess compliance with
accounting standards and other regulations.
