IREDA declares Gensol accounts as fraudulent
pre-market1 source ↓written by the desknot a recommendation
- Engineering stands
- ₹453.77 crore
- made
- 85% provisioning
The Indian Renewable Energy Development Agency Ltd (IREDA) has declared the loan accounts of Gensol Engineering Ltd and its subsidiary Gensol EV Lease Ltd as fraudulent, reporting the matter to the Reserve Bank of India. The outstanding amount for Gensol Engineering stands at ₹453.77 crore, with 85% provisioning made as of March 31, 2026. This classification follows allegations of misappropriation and forgery.
Not investment advice. For informational purposes only.