New Delhi, May 23 -- The Debts Recovery Tribunal (DRT)-III, Delhi, has directed Gensol Engineering Ltd and its subsidiary, Gensol EV Lease Pvt. Ltd, to maintain the status quo on their secured assets and vehicles.

State-run lenders-the Indian Renewable Energy Development Agency (IREDA) and Power Finance Corp. Ltd (PFC)-had approached the tribunal seeking to recover dues totalling approximately Rs.992 crore.

The 22 May order was issued by DRT presiding officer Shiv Kumar, who also issued notices to the Gensol entities and sought their responses.

"In the meantime, defendants (Gensol) are directed to maintain status quo with regard to secured assets/vehicles till the next date fixed," the tribunal said. The matter is scheduled to be heard...