Legal Turmoil: NCLAT Directs Review of Harsh Ruling Against Gensol Engineering
The Appellate Tribunal (NCLAT) has instructed the National Company Law Tribunal (NCLT) to hear a plea by former Gensol Engineering director Harsh Singh challenging a tribunal verdict for investigation against him. Singh, an independent director, argues he shouldn't be liable for the board's decisions in a case involving alleged fund misuse.
- Country:
- India
The National Company Law Appellate Tribunal (NCLAT) has directed the National Company Law Tribunal (NCLT) to promptly hear a petition filed by Harsh Singh, former independent director of Gensol Engineering. Singh is challenging a verdict ordering an investigation into the company's directors and key individuals.
According to the NCLAT's recent decision dated June 16, Singh is granted a two-day window to file a vacation application against the NCLT's ruling. This follows allegations by SEBI against Gensol's co-founders for suspected fund misuse, leading Singh, a practicing advocate, to contend the order's severity given his former independent directorship.
The NCLT, whose Ahmedabad bench initially called for the inquiry on May 28, 2025, into Gensol's directors and senior personnel, is mandated to decide on the vacation application while ensuring due legal procedure. Meanwhile, insolvency proceedings against Gensol Engineering and Gensol EV Lease have also been initiated under NCLT directives.
(With inputs from agencies.)
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