Updated Jun 14, 2025 07:33 IST
Gensol Engineering, Gensol EV to face insolvency proceedings; know what NCLT said (Pic: Shutterstock/ ET NOW)
The order came after NCLT admitted the petitions filed by the Indian Renewable Energy Development Agency ( IREDA ).
The Ahmedabad bench of NCLT also appointed interim resolution professionals for both debt-ridden companies after suspending their respective boards.
IREDA-Gensol Insolvency
In the matter of Gensol Engineering, a two-member NCLT bench said IREDA has established a financial debt of Rs 510 crore by the company through ledger extracts, TRA statements, demand notices and NeSL records.
“The Respondent/Corporate Debtor Gensol Engineering Ltd is admitted in the Corporate Insolvency Resolution…
