Shares of Gensol Engineering hit 5% upper circuit on May 15 even as Indian Renewable Energy Development Agency (Ireda) on May 14 said it has filed a bankruptcy application against the beleaguered firm before the National Company Law Tribunal. According to a regulatory filing, Ireda has filed an application on May 14, 2025, under Section…
India’s IREDA files bankruptcy case against Gensol Engineering amid fraud allegations Reuters Read the original article here
Indian Renewable Energy Development Agency (Ireda), a government-owned financial agency, has filed for insolvency against Gensol Engineering | New Delhi: Indian Renewable Energy Development Agency (Ireda), a government-owned financial agency, has filed for insolvency against Gensol Engineering. This step comes after Gensol failed to repay a loan of ₹510 crore. The petition was filed under…
Hasan Nawaz Sharif, the son of PML-N President and former prime minister Nawaz Sharif. — Reporter Hasan Nawaz Sharif eligible to become company director again. Bankruptcy order was issued last year in case brought by creditors. He declared bankruptcy after being asked to pay £10m in taxes. LONDON: The United Kingdom (UK) government’s Revenue and Customs…
With BizWest since 2012 and in Colorado since 1979, Dallas worked at the Longmont Times-Call, Colorado Springs Gazette, Denver Post and Public News Service. A Missouri native and Mizzou School of Journalism grad, Dallas started as a sports writer and outdoor columnist at the St. Charles (Mo.) Banner-News, then went to the St. Louis Post-Dispatch…
The Indian Renewable Energy Development Agency (Ireda) has initiated legal action under Section 7 of the Insolvency and Bankruptcy Code against Gensol Engineering due to the company’s failure to repay a loan of Rs 510 crore. This was disclosed in a stock exchange announcement on Wednesday. If the National Company Law Tribunal accept the insolvency…
Gensol Engineering Limited, once a rising star in India’s clean energy and electric vehicle (EV) space, now faces an insolvency petition filed under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016. The petition, filed on 14th May by one of the financial creditors – IREDA — for a default amounting to ₹510 crore.…
Ireda Initiates Insolvency Proceedings Against Gensol Engineering BW Businessworld Read the original article here
MUMBAI: Indian Renewable Energy Development Agency on Wednesday filed an insolvency plea against troubled Gensol Engineering over a default of Rs 510 crore, the power financier said in an exchange filing.The application was filed under section 7 of theInsolvency and Bankruptcy Code.Troubles at Gensol unfolded after a Sebi probe revealed in April that the company’s…
