Delhi High Court Grants Relief in High-Stakes EV Leasing Dispute Involving Gensol’s sister concern Param Renewable Energy Private Limited.

We are pleased to share that the Delhi High Court, in the matter titled SMAS Auto Leasing India Private Limited v. Param Renewable Energy Private Limited & Ors., granted urgent interim relief to our client, SMAS Auto Leasing India Pvt. Ltd., protecting its interest in a fleet of leased electric vehicles (EVs).

The matter was heard before the Hon’ble Ms. Justice Jyoti Singh (Court No. 46), where SMAS sought interim measures under Section 9 of the Arbitration and Conciliation Act, 1996, against Param Renewable Energy Private Limited and their promoters and directors.

The dispute arises from a Master Lease Agreement executed in 2022, under which SMAS had leased 62 EVs to Param Renewable Energy. After the entity defaulted on its lease payment obligations in May 2025—amidst regulatory scrutiny and a SEBI interim order alleging fund siphoning and governance lapses against its Directors and Promoters —SMAS approached the Court seeking urgent protection. Out of the 62 EVs, on date of filing the Petition, 18 EVs were still in possession of Param Renewable Energy.

The Hon’ble Court, acknowledging the seriousness of the matter and the rapid depreciation of EVs, restrained the Respondents from alienating, encumbering, or dealing with the leased EVs. The Court also appointed Receivers for inspection and upkeep, and directed full cooperation from the Respondents in identifying the location of the vehicles.

Advocate Mayank Pandey appeared in the matter and was briefed by:

– Aditya Bhattacharya (Partner, KSK)

– Simran Tandon (Associate Partner, KSK)

– Sarthak Miglani (Associate, KSK)

We are proud of the KSK team’s strategic intervention in securing critical interim relief for the Firm’s client. This is the second relief with respect to leased EVs on behalf of SMAS against Gensol and its Sister Concerns having already obtained an Order dated 07.05.2025.