IREDA said it has initiated insolvency proceedings under Section 7 of the Insolvency and Bankruptcy Code over a default of INR 510 Cr by Gensol
In an interim order last month, SEBI found that the EPC company defaulted on debt worth INR 57.9 Cr from IREDA and an additional INR 13.67 Cr in debt from PFC
Gensol borrowed INR 977.75 crore Cr from IREDA and Power Finance Corporation between FY22 and FY24, of which INR 262.13 Cr, as per SEBI, remains unaccounted for
The Indian Renewable Energy Development Agency (IREDA) has…