NCLAT Restricts Gensol From Leasing Out 152 EVs: Report

In the recent order, NCLAT restricted Gensol IRP from leasing 152 EVs, as the lease agreement expired before Gensol’s insolvency proceedings began

The order came on a petition filed by SMAS Auto Leasing India, one of Gensol’s lessors, which had leased out 164 vehicles to the company

Gensol has been under insolvency proceedings since June 13

The National Company Law Appellate Tribunal (NCLAT) today restricted Gensol Engineering interim resolution professional (IRP)…