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IREDA Declares Gensol Engineering Borrowers as Fraud With ₹673 Crore Exposure

10 July 2026
Indian Renewable Energy Development Agency Ltd.

IREDA declared fraud on Gensol Engineering and Gensol EV Lease, with outstanding amounts of Rs 453.77 crore and Rs 218.97 crore. Provisions held at 85% as of March 2026. Fraud involves misappropriation and forgery.

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