Tax & Penalty30 May 2026, 09:41 pm
Suzlon Energy faces ₹28.65 Cr penalty from SEBI
AI Summary
Suzlon Energy Ltd. announced that SEBI has imposed a penalty of ₹15.95 Crores on the company, along with penalties on key managerial personnel including Mr. Vinod R. Tanti (₹5.75 Crores), Mr. Girish R. Tanti (₹5.45 Crores), Mr. Kirti J. Vagadia (₹1.5 Crores), and Mr. Amit Agarwal (₹30 Lacs). The order, dated 29th May 2026, follows a show cause notice related to financial statements from FY 2013-14 to FY 2017-18. The company plans to appeal the order before the Securities Appellate Tribunal.
Key Highlights
- SEBI imposes ₹15.95 Cr penalty on Suzlon Energy.
- Key managerial personnel face penalties totaling ₹13.0 Cr.
- The order relates to financial statements from FY14 to FY18.
- Suzlon will file an appeal before the Securities Appellate Tribunal.
- The company does not expect any impact on financial or operational activities.