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Gensol Engineering Ltd faces potential liquidation after a ₹510 crore loan default was admitted by a tribunal.
The National Company Law Tribunal in Ahmedabad has admitted an insolvency plea against Gensol Engineering Ltd, filed by the Indian Renewable Energy Development Agency over a ₹510 crore loan default.
The tribunal appointed an interim resolution professional to manage the company, which could face liquidation if a resolution plan isn't approved within 180 to 330 days.
Gensol is accused of financial misstatements and fund diversion.
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Gensol Engineering Ltd se enfrenta a una posible liquidación después de que un tribunal admitiera un incumplimiento de préstamo de ₹ 510 crores.