Overview
- SEBI on May 29, 2026 set aside a June 27, 2025 adjudicating‑officer order and imposed total penalties of Rs 28.95 crore on Suzlon Energy, promoters Vinod R Tanti and Girish R Tanti, and former CFOs Kirti J Vagadi and Amit Agarwal.
- Suzlon has filed a BSE disclosure saying it will appeal to the Securities Appellate Tribunal and that the order will not affect its financial position or day‑to‑day operations while the appeal proceeds.
- The penalty split is Rs 15.95 crore for Suzlon, Rs 5.75 crore for Vinod R Tanti, Rs 5.45 crore for Girish R Tanti, Rs 1.5 crore for Kirti J Vagadi and Rs 0.3 crore for Amit Agarwal.
- The case concerns alleged misrepresentation in Suzlon’s financial statements for FY2014–FY2018, with SEBI saying those disclosures did not give a true and fair view of profitability, net worth, leverage and risk exposure.
- SEBI’s use of revisionary powers lets the regulator reopen and replace earlier no‑penalty decisions, so the SAT appeal could uphold, modify, stay or set aside the order and will shape investor confidence and governance scrutiny of the company.