IREDA To Recover INR 729 Cr From Gensol

Last week, IREDA filed an insolvency petition against troubled Gensol Engineering

The company is accused of borrowing INR 977.75 Cr from IREDA and PFC for purchasing EVs but not utilising the entire amount for it

In April, SEBI, in an interim order, said Gensol’s promoters Anmol Singh Jaggi and Puneet Singh Jaggi used the company’s funds as their “piggybank”

After filing an insolvency plea against Gensol Engineering, the Indian Renewable Energy Development…