IREDA classifies Gensol Engineering and its subsidiary as fraud.

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has classified the loan accounts of Gensol Engineering (₹453.77 crore) and its subsidiary Gensol EV Lease (₹218.97 crore) as fraud, taking the total exposure flagged to ₹672.74 crore. The company has also reported the matter to the RBI. * The fraud classification follows findings of alleged misappropriation of funds, criminal breach of trust and forgery, enabling IREDA to initiate recovery proceedings and other legal actions against the borrowers. * Financial Impact: IREDA stated it has already made provisions of ₹469.66 crore against these loan accounts as of Q4 FY26. The fraud tag is therefore unlikely to have any material incremental impact on its profitability, though recovery timelines and any additional provisioning will remain key monitorables.