India's IREDA files bankruptcy case against Gensol Engineering amid fraud allegations
Written by Emily J. Thompson, Senior Investment Analyst
Updated: May 14 2025
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Source: Reuters
Bankruptcy Filing Against Gensol Engineering: The Indian Renewable Energy Development Agency has filed a bankruptcy application against Gensol Engineering, marking the first creditor action against the company, which owes 5.10 billion rupees ($59.73 million) and is facing allegations of document falsification.
Management Resignations and Regulatory Actions: Gensol's Managing Director and his brother resigned following regulatory scrutiny from SEBI, which accused them of misusing company funds for personal expenses and defaulting on loans related to electric vehicle financing.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
