The National Company Law Tribunal (NCLT) has issued a notice to Gensol Engineering following the insolvency plea filed against it by the Indian Renewable Energy Development Agency (Ireda), a report said.
A bench of NCLT judicial member Shammi Khan and technical member Sanjeev Kumar Sharma instructed notice to be served to Gensol on all modes and list the matter for hearing on June 3, according to a report by Bar & Bench.
Ireda had sought insolvency proceedings against Gensol Engineering over a default of Rs 510 crore, according to an exchange filing from the power financier on Wednesday. The plea has been filed under Section 7 of the Insolvency and Bankruptcy Code.
The notice comes close on the heels of cofounders Anmol Singh Jaggi and
