New Delhi, April 24 -- Amidst mounting scrutiny over alleged financial irregularities in India, embattled solar power EPC (engineering, procurement, and construction) company Gensol Engineering Ltd's West Asia operation is exploring a potential separation from the parent company.
Two people aware of the development said that the Dubai-headquartered middle-east arm, which holds significant solar project contracts worth AED 175 million ( Rs.406.75 crore), is considering the move to mitigate the fallout from its India troubles.
"There is a plan being discussed to delink Gensol's West Asia operations from the parent company to sequester it from the India fallout,"one of the two people cited above said, requesting anonymity. "The plan also i...
Click here to read full article from source
To read the full article or to get the complete feed from this publication, please
Contact Us.