NCLAT refuses interim relief to Gensol units on asset freeze,...

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NCLAT refuses interim relief to Gensol units on asset freeze, directs BluSmart and Matrix to move NCLT

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The NCLAT declined to grant interim relief to Gensol Group entities, upholding the NCLT's asset freeze order following MCA's petition alleging fraudulent conduct and fund diversion. BluSmart and Matrix argued lack of proper hearing, but the NCLAT directed them to present their plea before the NCLT. The original order cited serious allegations supported by MCA, SEBI, and SFIO findings.

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