India, Aug. 5 -- The National Company Law Appellate Tribunal (NCLAT) today restricted Gensol Engineering interim resolution professional (IRP) from leasing out 152 EVs, which it had taken on rent from SMAS Auto Leasing India before going into insolvency.

The order came after SMAS filed a plea on IRP Keshav Khaneja's bid to lease a fleet of vehicles at a fixed monthly rental, reported Mint.

Khaneja reportedly issued a public notice, inviting bids to lease 4,000 EVs in Delhi-NCR and Bengaluru. SMAS Auto moved the tribunal, claiming that the lease for those 152 EVs had ended in April, days before Gensol entered the insolvency proceedings.

In today's court hearing, a bench led by chairperson Justice Ashok Bhushan ordered that the IRP was n...