Rs 510 crore setback for BluSmart parent Gensol Engineering! What happened now – IREDA connection? – Companies

IREDA-Gensol Engineering insolvency, bankruptcy plea: In just a month of capital market regulator SEBI’s interim order against Gensol Engineering , a lot has happened at and with the BluSmart parent. From high-level resignations to lawsuits, it has been a rather tumultuous month for the company.

Now, in the latest development, state-owned company IREDA has filed an insolvency and bankruptcy plea against Gensol Engineering, just around 20 days after filing a complaint with the Economic Offences Wing (EoW) against the electric car company’s parent. The PSU had in April 2022…