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IREDA drags Gensol to bankruptcy court over default of ₹510 crore
The New Indian Express Vellore
|May 15, 2025
STATE-owned green energy financier Indian Renewable Energy Development Agency (IREDA) is seeking insolvency proceedings against Gensol Engineering over a default of ₹510 crore, according to an exchange filing.
The plea is filed under Section 7 of the Insolvency and Bankruptcy Code (IBC).
"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, for an amount of default of ₹510,00,52,672," said IREDA in an exchange filing.
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