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Indian Renewable Energy Development Agency Limited
8 articles
Gensol Engineering and its subsidiary, Gensol EV Lease, are navigating complex insolvency proceedings initiated by the Indian Renewable Energy Development Agency (IREDA). IREDA has withdrawn one insolvency application against Gensol Engineering, while proceedings continue regarding Gensol EV Lease, with the NCLT Ahmedabad directing authorities to execute warrants and considering a settlement proposal. Additionally, IREDA is seeking to reclassify a debt claim from Orix Leasing within Gensol Engineering’s CIRP, potentially impacting the creditor list. These developments highlight ongoing financial challenges for the Gensol group, alongside an extension of the CIRP for SLS Power Corporation, also managed by IREDA.
IREDA Withdraws INR 7.99 Crore Claim Against Gensol
Indian Renewable Energy Development Agency Ltd (IREDA) sought NCLT permission to withdraw its INR 7.99 crore financial claim against Gensol Engineering Ltd.
The application was filed under Section 60(
IREDA vs Gensol EV Lease NCLT Insolvency Proceeding Update
NCLT Ahmedabad hears Section 7 IBC insolvency application filed by Indian Renewable Energy Development Agency against Gensol EV Lease Limited.
Committee of Creditors presented a counteroffer to the co
Gensol EV Lease NCLT Insolvency Petition Hearing
Indian Renewable Energy Development Agency filed Section 7 insolvency petition against Gensol EV Lease Limited.
NCLT Ahmedabad granted respondent one week to file reply and set next hearing for 10 Jun
IREDA Seeks Gensol Engineering Claim Reclassification in NCLT
Resolution Professional files application to reclassify IREDA's claim from financial to operational creditor against Gensol Engineering.
IREDA's counsel states a separate application seeks to withdraw
Gensol Engineering and IREDA Settle NCLT Case
Indian Renewable Energy Development Agency Ltd (IREDA) withdraws its Section 7 insolvency application against Gensol Engineering Ltd.
The matter was settled amicably between the parties, leading to th
Gensol EV Lease Insolvency Petition Settlement Proposal
NCLT Ahmedabad hears proceedings under Section 7 IBC filed by Indian Renewable Energy Development Agency against Gensol EV Lease Limited.
Tribunal directs Punjab police authorities to execute bailable
NCLT Disposes IREDA's Gensol Engineering Plea
NCLT Ahmedabad disposes IA/1406(AHM)2025 after respondents file undertakings to cooperate fully with the CIRP process.
IA/487(AHM)2026 remains pending, with respondent filing reply and RP granted one
NCLT Adjourns Gensol EV Lease Insolvency Proceedings
NCLT Ahmedabad hears multiple IAs in Gensol EV Lease Ltd's Section 7 insolvency petition filed by IREDA.
RP reports 120 of 150 leased vehicles handed over, seeks affidavit on missing accessories from