Disclosure regarding penalty
SUZLON · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
SEBI has passed an order on 29th May 2026 imposing penalties on Suzlon Energy Limited (Rs.15.95 Crores), former Whole Time Director Mr. Vinod R. Tanti (Rs.5.75 Crores), former MD Mr. Girish R. Tanti (Rs.5.45 Crores), CFO Mr. Kirti J. Vagadia (Rs.1.5 Crores), and former CFO Mr. Amit Agarwal (Rs.30 Lacs). This order sets aside a previous June 2025 adjudication order that had exonerated all noticees. The penalties relate to alleged misstatements in financial statements from FY 2013-14 to FY 2017-18. The Company has stated there would not be any impact on its financial, operation or other activities, and it plans to file an appeal before the Securities Appellate Tribunal.
This is a negative development as SEBI has reversed its earlier exoneration and imposed significant penalties totaling over Rs.23 crore. While the Company claims no operational impact, the penalty and related reputational concerns could weigh on investor sentiment. The planned SAT appeal adds uncertainty.