Securities and Exchange Board of India (Sebi) has imposed a monetary penalty of Rs 1.10 crore on Suzlon Energy and its Compliance Officer for alleged non-reporting of events in the past.
The company is in process of reviewing the order and will be guided by its legal counsel on the future course of action. The company does not believe that any penalty was warranted and would pursue the next steps as professionally advised.
Suzlon Group is one of the leading renewable energy solutions provider in the world with an international presence across 18 countries in Asia, Australia, Europe, Africa and Americas.