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 (IRP) to take over the management and operations of Gensol Engineering.
In April, IREDA had initiated an internal review with regards to its exposure to Gensol Engineering and the issues surrounding its promoters and associate companies.
The company filed a complaint with the Economic Offences Wing (EoW) against Gensol over falsified documentation,…
