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New Delhi: The state-run Indian Renewable Energy Development Agency (Ireda) on Wednesday filed an insolvency application against Gensol Engineering Ltd
State-owned Indian Renewable Energy Development Agency (Ireda) has filed an application seeking insolvency proceedings against embattled Gensol Engineering over a
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New Delhi: The state-run Indian Renewable Energy Development Agency (Ireda) on Wednesday filed an insolvency application against Gensol Engineering Ltd for a default of ₹510 crore, according to an exchange filing by the clean energy-focused lender.
The development comes nearly three weeks after Ireda filed a complaint with the Economic Offences Wing (EOW) of the Delhi Police against Gensol Engineering for alleged submission of falsified documents and dilution of promoters shares without lenders’ approval.
“In furtherance to our earlier letter dated 25.04.2025 with respect to M/s Gensol Engineering Limited, this is to inform you that the Company has filed an application today i.e. May 14, 2025 under Section 7 of Insolvency and…
State-owned Indian Renewable Energy Development Agency (Ireda) has filed an application seeking insolvency proceedings against embattled Gensol Engineering over a default of ₹510 crore, an exchange filing by Ireda shows.
The Ireda’s plea has been filed under Section 7 of the Insolvency and Bankruptcy Code (IBC). “With respect to M/s Gensol Engineering Limited, this is to inform you that the Company has filed an application today i.e. May 14, 2025 under Section 7 of Insolvency and Bankruptcy Code, 2016 against M/s Gensol Engineering Limited, for an amount of default of Rs. 510,00,52,672,” the company said.
The state-run PSU also filed a complaint against Gensol, its promoters Anmol Singh Jaggi and Puneet Singh Jaggi, and associated…
“In furtherance to our earlier letter dated 25.04.2025 with respect to M/s Gensol Engineering Limited, this is to inform you that the Company has filed an application today i.e. May 14, 2025 under Section 7 of Insolvency and Bankruptcy Code, 2016 against M/s Gensol Engineering Limited, listed company bearing CIN L74210GJ2012PLC129176 for an amount of default of Rs. 510,00,52,672/- (Rupees Five Hundred Ten Crores and Fifty Two Thousand Six Hundred and Seventy Two Only),” the regulatory filing said.
IREDA had earlier complained to the Economic Offences Wing (EOW) in late April over alleged falsified documents and Gensol’s dilution of promoter holding without its approval. IREDA has then said that while Gensol’s account is currently under stress, it is not classified as a non-performing asset yet.
Gensol has recently been hit by multiple other developments. Market regulator SEBI has appointed Raju and Prasad Chartered Accountants to conduct a forensic audit of Gensol Engineering financials. The audit will focus on the financial statements of the company during fiscal 2022–25. Further, the company’s promoters – Anmol Singh Jaggi and Puneet Singh Jaggi – have resigned following the market regulator Sebi’s interim order last…
(The Center Square) – For many Pennsylvanians, medical debt is a huge yet unavoidable problem. Even with insurance, many find themselves unable to pay the deductibles and copays demanded from rising healthcare costs.
According to Gov. Shapiro’s office, the commonwealth’s total balance of medical debt was over $1.8 billion in 2023, impacting 13% of the state with a disproportionate burden on vulnerable communities.
Yet, hospitals do have systems in place to assist patients with financial need, if they can access them.
This week, a bipartisan bill passed the House that would ensure patients have a better understanding of their financial situation and options when engaging with the healthcare system.
(The Center Square) – For many Pennsylvanians, medical debt is a huge yet unavoidable problem. Even with insurance, many find themselves unable to pay the deductibles and copays demanded from rising healthcare costs.
According to Gov. Shapiro’s office, the commonwealth’s total balance of medical debt was over $1.8 billion in 2023, impacting 13% of the state with a disproportionate burden on vulnerable communities.
Yet, hospitals do have systems in place to assist patients with financial need, if they can access them.
This week, a bipartisan bill passed the House that would ensure patients have a better…
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If you’re carrying a high balance on your credit cards, there are a few strategies you can use to try and lower it now.
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After reaching a historic peak in the last quarter of 2024, credit card balances are finally showing signs of improvement across the nation. Credit card balances fell to $1.18 trillion in the first quarter of 2025, according to the latest Household Debt and Credit Report from the Federal Reserve Bank of New York, released this week, down $29 billion (2.4%) from the previous quarter. This marks…
