Sebi slaps ₹29 crore penalties on Suzlon Energy, former executives for financial misrepresentation

The Securities and Exchange Board of India (Sebi) has imposed penalties on Suzlon Energy and several of its directors, alleging that the company used a series of intra-group transactions to present a misleading picture of its financial health.

In a 96-page order published on Friday, the market regulator said Suzlon structured transactions between its subsidiaries to artificially inflate profits, net worth and investor perception, even though the transactions lacked real economic substance.