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Gensol Group Encounters Insolvency Challenges Due to Ireda Obligations

The National Company Law Tribunal (NCLT) in Ahmedabad has initiated corporate insolvency resolution processes (CIRP) for Gensol Engineering Limited (GEL) and its subsidiary, Gensol EV Lease (GEVL), following petitions filed by the Indian Renewable Energy Development Agency (Ireda). The tribunal admitted the petitions due to significant outstanding dues, amounting to over ₹729 crore combined. This…

NCLT Ahmedabad Admits Gensol Into Insolvency on IREDA’s Plea

The National Company Law Tribunal (NCLT) in Ahmedabad has admitted Gensol Engineering Limited (GEL) and its subsidiary, Gensol EV Lease (GEVL), into insolvency proceedings following a petition by the Indian Renewable Energy Development Agency (IREDA). The tribunal’s decision, delivered on June 13, comes after Gensol defaulted on loans amounting to ₹510 crore for GEL and…

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To use this website, cookies must be enabled in your browser. To enable cookies, follow the instructions for your browser below. Facebook App: Open links in External Browser There is a specific issue with the Facebook in-app browser intermittently making requests to websites without cookies that had previously been set. This appears to be a…

Rakesh Wadhawan Opposes Suraksha ARC’s ₹1,709 Crore Claim In HDIL Insolvency Case, Alleges Fraud And Threatens NCLT Action

Rakesh Kumar Wadhawan, the suspended director of Housing Development and Infrastructure Limited (HDIL) | File Photo Mumbai: Rakesh Kumar Wadhawan, the suspended director of Housing Development and Infrastructure Limited (HDIL), has addressed a letter to Abhay Manudhane, the Resolution Professional (RP) appointed in HDIL’s Corporate Insolvency Resolution Process (CIRP), strongly objecting to his decision to…