A company law court on Friday admitted Gensol Engineering Ltd and its EV leasing subsidiary to insolvency proceedings, and appointed an interim resolution professional (IRP) to take charge of... Gensol Engineer . · Mkt Cap: 130 Crore (down -95.8% in 1 year) · Revenue: 1,452 Cr · Profit: 87.3 Cr · Though the company is reporting repeated profits, it is not paying out dividend · Company has low interest coverage ratio. Gensol Engineering shares: On Wednesday, the two-member bench of the NCLT, consisting of judicial member Shammi Khan and technical member Sanjeev Kumar, reserved its judgment on Ireda's petition filed under Section 7 of the Insolvency and Bankruptcy Code (IBC) against Gensol Engineering concerning a loan default amounting to Rs 510 crore. The Ahmedabad bench of the National Company Law Tribunal (NCLT) has admitted Gensol Engineering Limited to Corporate Insolvency Resolution Process (CIRP) on a petition filed by the Indian Renewable Energy Development Agency (Ireda), according to a report from Bar and Bench. An interim resolution ...
