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Ireda files insolvency application against Gensol
Mint New Delhi
|May 15, 2025
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.
This comes nearly three weeks after Ireda filed a complaint with the Economic Offence Wing (EoW) of the Delhi Police against Gensol 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 Bankruptcy Code, 2016 against M/s Gensol Engineering Ltd, for an amount of default of ₹510,00,52,672/- (Rupees Five Hundred Ten Crore and Fifty Two Thousand Six Hundred and Seventy Two Only),"" said the exchange filing.
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