Gensol fraud: Lenders may approach EOW

The Indian Renewable Energy Development Agency (IREDA) and Power Finance Corporation (PFC), two public sector non-banking financial companies (NBFCs) that extended loans to Ahmedabad-based Gensol Engineering Ltd (GEL), are likely to approach the Economic Offences Wing (EOW) of the Delhi Police to report alleged forgery by the firm of their official letters, according to people familiar with the matter.

- PUJA DAS

Furthermore, the Ministry of Corporate Affairs on Monday said it will take necessary action in the GEL matter after examining the Securities and Exchange Board of India's (Sebi's) interim order against the firm, and its promoters Anmol Singh Jaggi and Puneet Singh Jaggi. The ministry, according to a PTI report, is examining the April 15 order in light of the provisions of the Companies Act, 2013.

Emailed queries sent to the spokespersons of both PFC and IREDA last week remained unanswered at the time of going to press.