Announced Fri, 10 Jul · 21:41 IST
IREDA declares Gensol Engineering and Gensol EV Lease accounts as fraud
IREDA · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Price reaction · full curve 14 horizons · vs prior close
-3.5%1-day move
₹126.53
prior close
₹124.25
base price
After-mkt
timing
5m10m15m30m1D2D3D4D5D7D15D1M2M3M
-0.2-0.2-0.2+0.1-3.5-4.1-4.6-4.0-4.0-5.4————
Up moveDown movePending
AI summary
IREDA has declared loans to Gensol Engineering and its subsidiary Gensol EV Lease as fraud, reported to RBI per regulatory norms. Fraud involves misappropriation, criminal breach of trust, and forgery. Combined outstanding of Rs 672.74 crore, with 85 percent provision already held as on March 31, 2026.
Likely market impact
Confirms prior concerns on Gensol exposure. Limited P&L impact since 85 percent is already provisioned. Negative sentiment likely.