Ireda has filed for bankruptcy against Gensol Engineering, a listed company, for defaulting on a Rs 510 crore loan. The move follows Sebi’s investigation into fund diversion and governance lapses.
New Delhi, May 14 (PTI) Indian Renewable Energy Development Agency (Ireda) on Wednesday said it has filed a bankruptcy application against beleaguered Gensol Engineering before the National Company Law Tribunal.
According to a regulatory filing, Ireda has filed an application on May 14, 2025, under Section 7 of the Insolvency and Bankruptcy Code, 2016 against Gensol Engineering Limited, a listed company bearing an amount of default of Rs 510,00,52,672 (about Rs 510 crore).
Last month, in an interim order, Sebi barred Gensol Engineering and…
