Two days after state-owned renewable energy NBFC Ireda filed an insolvency plea against Gensol Engineering over ₹510 crore default, the company has filed another insolvency application against Gensol EV Lease Ltd, a Gensol Engineering subsidiary, for the default of ₹218.95 crore.
“The company has filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016 on May 15, 2025, against Gensol EV Lease Ltd, which is a subsidiary of Gensol Engineering Limited (Listed company) for an amount of default of Rs. 218.95 Crore,” Ireda says in an exchange filing.
Ireda, on May 14, filed an application seeking insolvency proceedings against embattled Gensol Engineering over a default of ₹510 crore. Before that, the state-run PSU…
