Monitoring Agency Report

T: +91 7248777752 Gensol Engineering Ltd E: cirpgensolengg@gmail.com A2-12th Floor, Palladium, Opp. Vodafone House, Corporate Road, Prahlad Nagar Ahmedabad – 380015, Gujarat Correspondence Address: MiQB Executive Coworking Space, Plot 23, Sector 18, Maruti Industrial Development Area, Gurugram, Haryana – 122015 20.08.2026 To, National Stock Exchange of India Limited BSE Limited Exchange Plaza, C-1, Block G, Phiroze Jeejeebhoy Towers, Bandra Kurla Complex, Dalal Street, Bandra (E), Mumbai – 400 001 Mumbai – 400 051 Scrip Code: 542851 NSE Symbol: GENSOL Dear Sir/Madam, Subject: Submission of Monitoring Agency Report for the quarter ended June 30, 2026 Pursuant to Regulation 162A of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018 (“SEBI ICDR Regulations”) and the Monitoring Agency Agreement dated February 05, 2024, we hereby submit the Qualified Monitoring Agency Report issued by Crisil Ratings Limited, Monitoring Agency, in respect of monitoring of utilisation of proceeds raised pursuant to the Preferential Issue of the Company, for the quarter ended June 30, 2026. The Monitoring Agency Report is enclosed herewith for your information and records. For Gensol Engineering Limited (Company under Corporate Insolvency Resolution Process) The powers of the Board of Directors are suspended and are being exercised by the Resolution Professional appointed by the Hon’ble NCLT. Yours faithfully, Authorized Signatory On Behalf of Gensol Engineering Limited (Resolution Professional) (In the Matter of Gensol Engineering Limited) IBBI Registration No.: IBBI/IPA-002/IP-N01131/2021-2022/13759 C-7, Parth Apartment, Ramdev Nagar, Satellite, Ahmedabad-380015. Mob: 7248777752 Email: khanejakes@gmail.com Monitoring Agency Report Gensol Engineering Limited for the quarter ended June 30, 2026 CRL/MAR/GEENLI/2026-27/1873 August 14, 2026 Gensol Engineering Limited 15th Floor, A Block, Westgate Business Bay, S G Road, Jivraj Park Ahmedabad 380051. Dear Sir, Sub: Qualified Monitoring Agency Report – Issuer Not Cooperating for the quarter ended June 30, 2026 - in relation to the Preferential Issue (“PI”) of Gensol Engineering Limited (“the Issuer”) Pursuant to Regulation 162A of SEBI (lssue of Capital and Disclosure Requirements) Regulations, 2018 (“SEBI ICDR Regulations”) and Monitoring Agency Agreement dated February 05, 2024, enclosed herewith the qualified Monitoring Agency Report – Issuer not cooperating, issued by Crisil Ratings Limited, Monitoring Agency, as per Schedule XI of the SEBI ICDR Regulations due to non-cooperation on part of the Issuer to provide necessary information and documents regarding utilization of proceeds raised from PI for the quarter ended June 30, 2026. Request you to kindly take the same on records. Thanking you, For and on behalf of Crisil Ratings Limited Shounak Chakravarty Director, Ratings (LCG) Qualified Report of the Monitoring Agency - Issuer not cooperating Name of the issuer: Gensol Engineering Limited For quarter ended: June 30, 2026 Name of the Monitoring Agency: Crisil Ratings Limited (“CRL”) (a) Deviation from the objects: Unable to comment as the issuer is not cooperating (b) Range of Deviation: Unable to comment as the issuer is not cooperating Qualification: Non-co-operation by the Issuer- This Monitoring Agency Report for the quarter ended June 30, 2026, is qualified due to the non-cooperation by Gensol Engineering Limited (“Gensol” or “the issuer”) in providing all the required necessary documents and information as requested by the CRL, in accordance with the requirements of regulation 162A of SEBI ICDR Regulations and Monitoring Agency Agreement. The agreement dated February 05, 2024, was entered into between the Issuer and the Monitoring Agency to monitor the utilisation of proceeds raised by the Issuer through the preferential issue of Rs. 5,386,033,185/- vide notice to shareholder of the Issuer dated February 09, 2024, shareholder’s resolution dated March 02, 2024, and corporate announcement dated June 18, 2024, towards allotment of warrants under said Preferential Issue. CRL has made consistent efforts to obtain the necessary information through emails dated June 15, July 08, and July 17 and letter dated July 31, 2026, and email dated August 05, 2026, however, the issuer has remained non-co-operative, which is in continuation to the previous quarter’s qualified ‘Issuer’s Non-Cooperative’ MA report dated May 15, 2025, and August 14, 2025, November 13, 2025, February 13, 2026, May 15, 2026, thereby, hindering CRL’s ability to carry out its responsibilities as the Monitoring Agency under the said agreement and the SEBI regulations. As a result, CRL is unable to perform its duties under the said agreement and the SEBI regulations, and to monitor the utilisation of issue proceeds or to confirm that any utilisation of issue proceeds is consistent with the objects of the issue or if there is any delay in implementation of objects or mode of deployment of unutilised funds or any other aspects required to be commented upon by the Monitoring Agency. Therefore, the stakeholders are advised to exercise due caution when relying on this report, which is issued with the status 'ISSUER NOT COOPERATING'. CRL wishes to emphasize that its inability to provide a comprehensive report is solely due to the Issuer’s non-cooperation. Gensol is currently undergoing Corporate Insolvency Resolution Process (“CIRP”). As part of the CIRP, Mr. Keshav Khaneja has been appointed as the Resolution Professional (“RP”) and the powers of the Board of Directors stand suspended and are being exercised by the RP. The RP has informed CRL that “due to the ongoing CIRP, it does not have access to complete historical records, books, supporting documents and other relevant information relating to the utilization and deployment of the proceeds raised pursuant to the Preferential Issue. Consequently, the RP is presently not in possession of sufficient data and documentary records to independently verify and confirm the utilization of the funds raised through the said Preferential Issue.” Declaration: We declare that this report aims to provide an objective view of the utilization of the issue proceeds in relation to the objects of the issue based on the information provided by the Issuer and information obtained from sources believed to be accurate and reliable. However, non-cooperation by Gensol including non-sharing of necessary information has hindered CRL’s ability to provide any view in this case. The MA does not perform an audit and undertakes no independent verification of any information/ certifications/ statements it receives. This Report is not intended to create any legally binding obligations on the MA which accepts no responsibility, whatsoever, for loss or damage from the use of the said information. The views and opinions expressed herein do not constitute the opinion of MA to deal in any security of the Issuer in any manner whatsoever. Nothing mentioned in this report is intended to or should be construed as creating a fiduciary relationship between the MA and any issuer or between the agency and any user of this report. The MA and its affiliates also do not act as an expert as defined under Section 2(38) of the Companies Act, 2013.The MA or its affiliates may have credit rating or other commercial transactions with the entity to which the report pertains and may receive separate compensation for its ratings and certain credit-related analyses. We confirm that we do not perceive any conflict of interest in such relationship/interest while monitoring and reporting the utilization of the issue proceeds by the issuer. We have submitted the report herewith in line with the format prescribed by SEBI, capturing our comments, where applicable. There are certain sections of the report under the title “Comments of the Board of Directors”, that shall be captured by the Issuer’s Management / Audit Committee of the Board of Directors su [Showing first 8,000 characters — download PDF for full document]