IREDA Declares Gensol Engineering Accounts as Fraud

Indian Renewable Energy Development Agency Ltd (IREDA) has declared the accounts of M/s Gensol Engineering Limited and its subsidiary M/s Gensol EV Lease Limited as fraud. This declaration has been reported to the Reserve Bank of India (RBI) as per regulatory requirements. The fraud involves misappropriation, criminal breach of trust, and forgery. The outstanding amounts are ₹453.77 crore for Gensol Engineering and ₹218.97 crore for Gensol EV Lease. Provisions held are 85% for both entities. This disclosure is made under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.