Overview

• Major reported claimants include Catalyst Trusteeship at about Rs 250 crore and IREDA near Rs 130 crore, with Tata Capital around Rs 5 crore and several former executives filing ‘employee dues’ exceeding Rs 1 crore each.
• The Ahmedabad bench of the NCLT admitted Catalyst’s plea on July 29 after finding evidence of default under the IBC, including an email acknowledgment of dues by cofounder Anmol Singh Jaggi.
• Interim Resolution Professional Ritesh Kumar Adatiya of NPV Insolvency Professionals is collating, verifying and admitting claims while managing assets and reporting to the committee of creditors.
• A Section 14 moratorium remains in force, halting new or ongoing legal proceedings and barring transfers, sales or enforcement of security interests against BluSmart’s assets.
• Related insolvency cases against sister entities Gensol Engineering (about Rs 510 crore default) and Gensol EV Lease (about Rs 219 crore) are active, underscoring the interconnected exposure.