New Delhi: The Ahmedabad bench of the National Company Law Tribunal (NCLT) on Friday issued a notice on a ₹510 crore insolvency plea filed by the Indian Renewable Energy Development Agency Ltd (Ireda).
The bench, comprising judicial member Shammi Khan and technical member Sanjeev Kumar Sharma, declined Ireda’s request to appoint an interim resolution professional (IRP) during today’s initial hearing, stating that Gensol Enegineering must be heard first.
Ireda’s counsel argued for immediate oversight, claiming the company was “headless” after its directors allegedly fled amid regulatory scrutiny. “Sir, by virtue of Sebi’s (Securities and Exchange Board of India) order, the company is now headless. Directors have walked out…
