Gensol Engineering, linked to BluSmart’s founders, has defaulted on Rs 4 crore in payments to its pass-through certificate (PTC) holders, impacting retail investors. The default stems from BluSmart halting operations and stalled deal talks, jeopardising loan repayments secured against vehicles. With vehicles now under lessor’s control, recovery efforts are underway amidst investigations into fund diversions by Gensol’s promoters.
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