Delhi High Court Bars Gensol, BluSmart from Alienating EVs leased from Orix

The Delhi High Court has restrained Gensol Engineering Ltd. and BluSmart Mobility from transferring or creating third-party rights over 175 electric vehicles leased from Japan-based Orix Corporation.

The court issued the interim order in a petition filed by Orix under Section 9 of the Arbitration and Conciliation Act, 1996, alleging lease payment defaults amounting to ₹4 crore and breaches of contract

It has sought to prevent Gensol and BluSmart from disposing of leased vehicles. Matter is further listed for May 16. 

This development comes as SEBI investigates Gensol for corporate governance lapses and financial irregularities.