New Delhi, April 25 -- The Delhi high court on Friday barred Gensol Engineering Ltd and BluSmart Mobility from creating third-party rights over 175 electric vehicles (EVs) that were leased to them by Japanese financial services firm Orix.

Orix had moved the court under the Arbitration and Conciliation Act, seeking interim measures to prevent the sale or use of the vehicles as collateral after non-payment of dues by Gensol and breach of contract related to the leased EVs.

As per Orix's plea, the company had entered into lease agreements with both Gensol Engineering and BluSmart Mobility as part of a green mobility push. The 175 EVs were leased to support BluSmart's ride-hailing operations in India. Anmol Singh Jaggi, co-founder of both f...