Delhi HC orders seizure, relocation of 129 EVs from Gensol, BluSmart in fallout of loan scam

Share via:


In continuation with a series of orders passed against Gensol and BluSmart, the Delhi High Court on Thursday directed seizure and relocation of 129 passenger electric vehicles (EVs) in Delhi, Gurugram and Bengaluru that were hypothecated to STCI Finance by the companies after the lender alleged default in loan payments and sought to restrain them from creating any third-party rights in the vehicles.Gensol had availed a Rs 15 crore equipment term loan from STCI under a 2023 loan facility agreement for acquiring 129 EVs for commercial leasing. The loan…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

Popular

More Like this

Delhi HC orders seizure, relocation of 129 EVs from Gensol, BluSmart in fallout of loan scam


In continuation with a series of orders passed against Gensol and BluSmart, the Delhi High Court on Thursday directed seizure and relocation of 129 passenger electric vehicles (EVs) in Delhi, Gurugram and Bengaluru that were hypothecated to STCI Finance by the companies after the lender alleged default in loan payments and sought to restrain them from creating any third-party rights in the vehicles.Gensol had availed a Rs 15 crore equipment term loan from STCI under a 2023 loan facility agreement for acquiring 129 EVs for commercial leasing. The loan…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

Website Upgradation is going on for any glitch kindly connect at office@startupnews.fyi

More like this

The Security Paradox of AI in Cloud Native Development 

As AI and other familial technologies like generative...

Can CleverTap’s Deep AI Roots Withstand The GenAI Tide?

When you idly tapped on the food delivery...

This is the reason why Infosys fired hundreds of...

In the sprawling Infosys training campus in Mysuru,...

Popular

Upcoming Events

PayPal launches tap-to-pay for iPhone users in Germany

PayPal has rolled out its new tap-to-pay feature...

India’s tablet market sees strong start to 2025, led...

India’s tablet market posted a robust 15% year-on-year...

JD.com reports 15.8% revenue growth in Q1

JD.com attributed its revenue growth to sustained consumer...
dsfdsfsd dsfdsfsd dsfdsfsd dsfdsfsd dsfdsfsd dsfdsfsd dsfdsfsd dsfdsfsd dsfdsfsd dsfdsfsd dsfdsfsd dsfdsfsd dsfdsfsd dsfdsfsd dsfdsfsd dsfdsfsd dsfdsfsd dsfdsfsd dsfdsfsd dsfdsfsd dsfdsfsd dsfdsfsd dsfdsfsd dsfdsfsd dsfdsfsd dsfdsfsd dsfdsfsd dsfdsfsd dsfdsfsd dsfdsfsd dsfdsfsd dsfdsfsd dsfdsfsd dsfdsfsd dsfdsfsd dsfdsfsd dsfdsfsd dsfdsfsd dsfdsfsd dsfdsfsd