Date: 30th May 2026
Regulatory Disclosure Summary
SEBI Order Details
Authority: Securities and Exchange Board of India (SEBI)
Order Reference: SEBI Order No.WTM/SP/CFID/CFID_4/32427/2026-27 dated 29th May 2026
Nature of Action: SEBI Whole Time Member passed an order imposing monetary penalties on the company and individuals, setting aside the previous Adjudication Order dated 27th June 2025 that had exonerated all noticees.
Penalty Details:
- Suzlon Energy Limited – ₹15.95 Crores
- Mr. Vinod R. Tanti – ₹5.75 Crores
- Mr. Girish R. Tanti – ₹5.45 Crores
- Mr. Kirti J. Vagadia – ₹1.5 Crores
- Mr. Amit Agarwal – ₹30 Lacs
Violation Details: The order relates to allegations of misstatement in the financial statements of the Company from FY 2013-14 to FY 2017-18. The order was passed under section 15-I(3) of the SEBI Act read with section 23-I(3) of the SCRA.
Historical Context: The company had previously informed about the Adjudication Order dated 27th June 2025 that disposed of the show-cause notice without imposition of any penalty. Subsequently, SEBI issued a show cause notice dated 26th September 2025 exercising its revisionary powers, to which the company responded with factual justifications denying the allegations.
Impact Assessment: The company states there would not be any impact on the financial, operation or other activities of the Company quantifiable in monetary terms.
Next Steps: The Company will be filing an appeal before the Securities Appellate Tribunal in respect of the SEBI order dated 29th May 2026.
Additional Information
Disclosure Compliance: This announcement is made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with Para A of Part A of Schedule III.
Document References:
- Previous adjudication order: https://www.sebi.gov.in/enforcement/orders/jun-2025/adjudication-order-in-the-matter-of-suzlonenergy-limited_94837.html
- Current SEBI order: https://www.sebi.gov.in/sebidata/attachdocs/may-2026/ORDER1780045331.pdf