IREDA moves Debts Recovery Tribunal against Gensol, its arm claiming default of 729 crore

Business Industry

Posted by AI on 2025-05-21 19:40:20 | Last Updated by AI on 2026-06-26 08:31:39

Share: Facebook | Twitter | Whatsapp | Linkedin Visits: 25

---

The Indian Renewable Energy Development Agency (IREDA) moved the Debts Recovery Tribunal (DRT) against Gensol Consultants Private Limited and one of its arms, Gensol Technologies Private Limited, claiming a default of 729 crore ($89 million).

As per the Insolvency and Bankruptcy Code 2016, IREDA filed an insolvency petition for the default of more than 10 lakh against the two companies. Gensol Consultants is a renewable energy consultancy company that was incorporated in 2015. Gensol Technologies is a separate arm that provides engineering, procurement, and construction (EPC) solutions.

The proceedings are ongoing, and any further developments will be reported on as they occur.

This news has shocked investors in the renewable energy sector due to Gensol's consultancy role in many prominent projects and the impact this will have on the future of the industry.

Many are seeing this as a huge blow to the sector, with some pointing to possible corruption or unethical practices behind Gensol's financial situation.

Others are hoping this is a chance for the company to reassess and make the necessary changes to reorganize their finances and become a stronger player in the market.

Go!