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Gensol, EV Leasing Arm Admitted to Insolvency
Mint Mumbai
|June 14, 2025
IREDA said Gensol had defaulted on ₹510 crore loans, turned "headless"
A company law court on Friday admitted Gensol Engineering Ltd and its EV leasing subsidiary to insolvency proceedings, and appointed an interim resolution professional (IRP) to take charge of the company's affairs.
The Ahmedabad bench of the National Company Law Tribunal (NCLT) accepted an insolvency petition filed by state-run Indian Renewable Energy Development Agency Ltd (Ireda) that said Gensol had defaulted on loans of ₹510 crore.
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