Nehal Chaliawala

2 days ago | livemint.com | Rituraj Baruah |Nehal Chaliawala

Apart from filing the complaint with the EoW, PFC is also investigating the matter internally under its anti-fraud policy. New Delhi: State-run Power Finance Corporation Ltd (PFC) said on Tuesday evening that it has filed a complaint with the Economic Offences Wing (EoW) of the Delhi police over the alleged filing of falsified documents by Gensol Engineering Ltd.

2 days ago | htsyndication.com | Rituraj Baruah |Nehal Chaliawala

New Delhi, April 22 -- State-run Power Finance Corporation Ltd (PFC) said on Tuesday evening that it has filed a complaint with the Economic Offences Wing (EoW) of the Delhi police over the alleged filing of falsified documents by Gensol Engineering Ltd. Mint had reported on Tuesday morning that PFC may approach the Serious Fraud Investigation Office and the EoW as well, as it explores all options to recover loans given to Gensol Engineering Pvt. Ltd, including moving the company law court.

2 days ago | htsyndication.com | Nehal Chaliawala |Gopika Gopakumar |Rituraj Baruah

New Delhi, April 22 -- Power Finance Corp. Ltd (PFC) is exploring all options including moving the company law court to recover loans to Gensol Engineering Pvt. Ltd, even as questions arise regarding how lenders remained unaware of the fund diversion spotted by the market regulator.

2 days ago | livemint.com | Nehal Chaliawala |Gopika Gopakumar |Rituraj Baruah

Companies Summary Gensol's lenders did not spot the discrepancy earlier, despite the company buying and hypothecating fewer cars than it had borrowed for. The gap was not flagged even a year after lenders transferred the last loan instalment to the company. This is a Mint Premium article gifted to you. Subscribe to enjoy similar stories. Power Finance Corp.

6 days ago | htsyndication.com | Nehal Chaliawala |Varun Sood

New Delhi, April 18 -- Promoters of Gensol Engineering Ltd (GEL) had assured the board that they would manage the company's debt better and get a Big Four auditor to vet related party transactions (RPTs), promises that remained unfulfilled even as the regulator cracked the whip on Tuesday. Meanwhile, Gensol's seven-member board has shrunk to two following the ban on its two promoters and the exit of three independent directors.