Gensol’s Lenders Mull Legal Route To Recover Loans

Between FY22 and FY24, Gensol had secured a term loan of INR 977.75 Cr from IREDA and PFC

As per the finding by SEBI, the company had defaulted on INR 57.9 Cr and INR 13.67 Cr worth of debt for IREDA and PFC respectively

Crisis at Gensol has also impacted BluSmart, as the EV ride hailing startup suspended its cab booking services in all locations

In further troubles for Gensol, its lenders Power Finance Corp (PFC) and Indian Renewable Energy Development Agency (IREDA) are reportedly planning to take legal action for…