IREDA declares Gensol Engineering and Gensol EV Lease accounts as fraud

Fraud confirmedRegulatory & Legal View source PDF Explain this filing

IREDA · price

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Price reactionminutes from the announcement price · days from the prior close

-1.4%Reaction day

₹126.53

prior close

₹124.25

announcement price

After-mkt

timing

Nifty Midcap 150market+0.0%-1.4% vs market

Financial Institution peers, median of 7sector-0.2%-1.2% vs sector

On the reaction day the stock moved 1.4 pts less than Nifty Midcap 150 and 1.2 pts less than its Financial Institution peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

Minutes after the announcementfrom the announcement price · no benchmark

Stock

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15m

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30m

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Sessions after the filingfrom the prior close

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Reaction day

-1.4+0.0-1.4-0.2-1.2

Next day

-3.5-0.5-3.0-0.1-3.4

-4.1-0.1-4.0-0.6-3.5

-4.6-0.5-4.1-1.1-3.4

-4.0-0.9-3.1-0.6-3.4

-4.0-0.3-3.6-0.2-3.8

-5.4-1.0-4.3-0.9-4.5

15d

-2.8+1.1-3.9+0.3-3.1

-7.2+1.6-8.8-1.8-5.4

-13.9-3.5-10.4-12.0-1.8

-14.6-5.8-8.9-13.0-1.7

UpDownMarket · Nifty Midcap 150Sector · Financial Institution peers, median of 7Pending

Minute windows have no benchmark: there is no intraday index history to compare against.

AI summary

IREDA has declared the loan accounts of Gensol Engineering Limited and its subsidiary Gensol EV Lease Limited as fraud and reported the matter to RBI under NBFC fraud risk management rules. Total outstanding is about 672.74 crore (453.77 crore from Gensol Engineering and 218.97 crore from Gensol EV Lease). Allegations include misappropriation, criminal breach of trust, and forgery using false documents. IREDA already holds 85 percent provision on both accounts as on 31 March 2026.

Likely market impact

Confirms large exposure to a declared fraud; 85 percent provision already held limits further hit. Negative sentiment likely due to Gensol association.