NCLT admits IREDA’s insolvency plea against Gensol Engineering, directs IRP appointment

The Ahmedabad bench of the National Company Law Tribunal, has admitted the insolvency plea filed by Indian Renewable Energy Development Agency’s (IREDA) insolvency plea against Gensol Engineering, on Friday, June 13. The NCLT has directed for initiation of insolvency proceedings against the company. The tribunal has also directed for the appointment of interim resolution professional…

NCLT Ahmedabad Admits Gensol Into Insolvency On IREDA Plea

The Ahmedabad bench of the National Company Law Tribunal on Friday admitted Gensol Engineering Ltd. into insolvency on a plea filed by the Indian Renewable Energy Development Agency Ltd. While the company has formally entered the corporate insolvency resolution process, an interim resolution professional is likely to be selected from the Insolvency and Bankruptcy Board…