Stock Market Today: Gensol Engineering share price slipped and hit lower circuit on Friday on news flow pertaining to NCLT admitting IREDA’s plea for insolvency in ₹510 crore default. Check details
IREDA’s action against Gensol Engineering
On the basis of a plea submitted by the state-run Indian Renewable Energy Development Agency Ltd or IREDA, which mentioned credit defaults totaling ₹510 crore, the Ahmedabad bench of the National Company Law Tribunal as per news reports has admitted IREDA’s plea for corporate insolvency proceeding against Gensol Engineering Ltd.
The news reports also suggest that the tribunal has also directed for the appointment of interim resolution professional (IRP) to take over the management and operations of…
