IREDA Declares Gensol Companies Fraud with ₹673 Crore Exposure

Details of Declared Fraud Accounts

1. M/s Gensol Engineering Limited

• Outstanding Amount: ₹453.77 crore
• Outstanding Percentage as of March 31, 2026: 85%
• Nature of Fraud: Misappropriation and Criminal Breach of Trust; Forgery with the intention to commit fraud by making false documents and/or electronic records

2. M/s Gensol EV Lease Limited (Subsidiary of M/s Gensol Engineering Limited)

• Outstanding Amount: ₹218.97 crore
• Outstanding Percentage as of March 31, 2026: 85%
• Nature of Fraud: Misappropriation and Criminal Breach of Trust

Total Exposure

Combined outstanding amount for both entities: ₹672.74 crore

Regulatory Framework

The fraud declaration was made in terms of the Reserve Bank of India Master Direction – Fraud Risk Management in Non-Banking Financial Companies (NBFCs) Directions, 2024.

Disclosure Requirements

This communication is made to the National Stock Exchange of India Limited and BSE Limited under Regulation 30 read with Schedule III of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.