IREDA takes Gensol to insolvency court

IREDA has initiated insolvency proceedings against Gensol Engineering, citing a default of ₹510 crore. This action follows a SEBI investigation revealing that Gensol's promoters misused loan funds for personal gains and stock manipulation. The Jaggi brothers, also linked to BluSmart, face scrutiny after stepping down from Gensol's board due to SEBI directives.