PFC, IREDA mull sale of Gensol EVs to secure loans

Power Finance Corp. and IREDA are considering auctioning Gensol's electric vehicles, acquired through loans, due to concerns over potential non-performing asset status. This action follows BluSmart's service halt, impacting lease payments and loan servicing. The lenders aim to secure Rs 663 crore amidst regulatory scrutiny and promoter issues, including fund diversion allegations.