Gensol Engineering has been in the spotlight since April, when SEBI barred the company’s promoters from the securities market for alleged fund diversions and corporate governance lapses. Photo: X/@GensolGroup
State-run Indian Renewable Energy Development Agency Ltd. (IREDA) on Friday (May 16, 2025) moved an insolvency petition against Gensol Engineering Ltd before the National Company Law Tribunal (NCLT), Ahmedabad, following which NCLT directed for issue of notices to Gensol and posted the case for hearing on June 3.
IREDA filed the petition against Gensol on May 14 under Section 7 of the Insolvency & Bankruptcy Code claiming a default of over ₹510 crore, which it had…
