Suzlon Energy founder Tulsi Tanti passes away after cardiac arrest

His death comes at a time when Suzlon Energy has just announced opening of its Rs 1,200 crore rights issue

Suzlon Energy Ltd Founder and Chairman Tulsi Tanti passed away on the night of October 1 following a cardiac arrest, the company said in a BSE filing. 

"With profound sadness, we inform you of the untimely demise of Shri Tulsi R Tanti, the Founder, the Chairman & Managing Director, and one of the promoters of Suzlon Energy Limited on 1st October 2022. Shri Tanti suffered a cardiac arrest and passed away the same day", said the company in the filing.

His death comes at a time when the company had just announced rights issue. Suzlon Energy announced opening of its Rs 1,200 crore rights issue on October 11, 2022. The last date of on-market renunciation of rights entitlements is October 14, 2022.

"The promoters and promoter group have confirmed their participation and they will be fully subscribing to the extent of their rights entitlement", the statement then issued by the company said.

In the BSE filing regarding the demise of Tanti, the company further said, "In this difficult time, the Company continues to be supported by its highly experienced board of directors and senior management who are both able and committed to take Shri Tanti’s legacy forward and realise his vision for the Company."

"Per Regulation 31A of the Listing Regulations, the list of the promoters and the promoter group of the Company stands updated with exclusion of Shri Tanti."