1. IBC Section 7: IREDA’s Insolvency Plea Against Gensol
- IREDA filed a Section 7 IBC petition at the NCLT against Gensol Engineering over a ₹510 crore loan default.
- Section 7 lets a financial creditor start CIRP when a corporate debtor defaults on financial debt.
- The application needs proof of default, the proposed IRP's name and creditor details.