Gensol Engineering Loan Accounts Declared Fraud by IREDA

Gensol Engineering Ltd has confirmed a news report stating that the Indian Renewable Energy Development Agency Limited (IREDA) has declared the company's loan accounts as fraud and reported the matter to the Reserve Bank of India (RBI). This action is based on an IREDA order dated July 9, 2026. The company is currently undergoing Corporate Insolvency Resolution Process (CIRP) initiated by the National Company Law Tribunal (NCLT) in June 2025. The Resolution Professional has been appointed and is exercising the powers of the Board of Directors. Gensol Engineering remains committed to regulatory compliance and will disclose further material developments.