India, April 18 -- In further troubles for Gensol, its lenders Power Finance Corp (PFC) and Indian Renewable Energy Development Agency (IREDA) are reportedly planning to take legal action for recovering their loans from the EPC company.

The promoters of Gensol, Anmol Singh Jaggi and Puneet Jaggi, are also the cofounders of EV ride-hailing startup BluSmart.

A report by ET said that the two public sector lenders will await the results of the preliminary findings of the forensic audit of the company ordered by the Securities and Exchange Board of India (SEBI) in an interim order. The markets regulator said that Gensol and its promoters diverted the company's funds and were involved in manipulation of share price.

In its investigation, SEB...