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NCLT admits Ireda plea against Gensol, EV leasing subsidiary
Hindustan Times Lucknow
|June 14, 2025
THE NCLT CLARIFIED THAT IT WOULD NOT APPOINT THE RESOLUTION PROFESSIONAL SUGGESTED BY THE LENDER
NEW DELHI: 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.
The NCLT bench of Shammi Khan and Sanjeev Kumar Sharma passed the order under Section 7 of the Insolvency and Bankruptcy Code (IBC).
NCLT has appointed Keshav Khaneja as the IRP of Gensol, according to an NCLT order.
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