PFC is active chasing other actions in the instantaneous case and exploring all possible options
On Tuesday, the lender of the sector of the State administered by the State, said that the lender of the Energy Sector has filed a complaint with the Wing of Economic Crimes (EOW) on the issue of GENSOL engineering promoters who present false documents with rating agencies.
Regarding the communications of the Credit and ICRA credit qualification agencies in the counterfeit documents, PFC clarified that it did not issue the letters they referred to.
“In addition, taking into account these red flags, the matter is under internally investigation in PFC under the anti-fraud policy of PFC. In addition, PFC has filed a complaint with the wing of economic crimes (EOW) a large number of false doctors,” the company.
Sebi in his provisional report said: “However, when seeking the confirmation of IREDA and PFC with respect to the issuance of the behavior and those of the Con, both categorical lenders Thewing issued these letters.”
“PFC is active chasing other actions in the instantaneous case and exploring all possible options. PFC undertakes to safeguard your interests and guarantee the recovery of your loan while maintaining the emphasized transparency”, the financing agency.
GENSOL financing
PFC has sanctioned ₹ 633 million rupees to Gensol Engineering in January 2023. This financing was allocated to the acquisition of 6,000 EVS (₹ 587 million for for for for for for for for for for for for 1ers for for for 1s for for for for for 1ersing singering sioting serming and ₹ position operations).
However, the three -wheeled loan was not used, he added.
Of the loan of ₹ 587 million rupees sanctioned towards four -wheeled electric vehicles, PFC had only disbursed ₹ 352 million rupees to gensol for lease or 3000 electric vehicles to extinguish mobility.
“To date, 2,741 vehicles and mortgages have been delivered to PFC, as confirmed by the third -party agencies designated by PFC. In addition, PFC also has pleas of the capital actions of Gensol and the companies of non -convertible obligations and the personal guarantees of the promoters,” he added.
Liquid assets in the form of trades, DSRA balances and Fixed Blusmart deposit with a tax marked to PFC are also in place, said the Maharatna company.
Refunds on the amount disbursed had begun with ₹ 45 million reimbursed rupees, leaving a pending director or ₹ 307 million rupees as of April 18, 2025. Until January 31, 2025, Gensol was regularly.
In the fourth quarter of fiscal year 2015, PFC invoked the debt service reserve account (DSRA) to clear the fees of February and March 2025.
Posted on April 22, 2025