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Suzlon Energy Ltd said it will move the Securities Appellate Tribunal (SAT) against a Sebi order imposing penalty of Rs 28.95 crore on the company, its two promoters and ex-CFOs over alleged misrepresentation of financial statements. In a BSE filing, the company stated that the Securities and Exchange Board of India (Sebi), through an order passed on May 29, 2026, set aside an earlier adjudication ruling on June 27, 2025. The earlier ruling had exonerated Suzlon Energy and its promoter-directors Vinod R Tanti, Girish R Tanti and former CFOs Kirti J Vagadi and Amit Agarwal without imposing any penalty regarding allegations of misrepresentation in financial statements between FY14 and FY18. "The company will be filing an appeal before the Securities Appellate Tribunal in respect of the SEBI order dated 29th May 2026," the renewable energy solutions provider said on Saturday. Capital markets regulator Sebi imposed a penalty of Rs 15.95 crore on Suzlon Energy Ltd (SEL), Rs 5.75 crore o
Renewable energy solution provider Suzlon on Tuesday appointed Ajay Kapur as the Group CEO. The company also elevated J P Chalasani to the newly formed Group Executive Council. Aligned with Suzlon 2.0 vision, Suzlon forms a Group Executive Council (GEC) to steer strategic direction and appoints Ajay Kapur as Group CEO to drive scale and business transformation across the group, the company said in a statement. An executive management council led by the Group CEO has also been formed to lead impactful transformation and sustainable growth of the group's businesses. This transition reflects the group's focus on structured succession and long-term value creation, while ensuring continuity in leadership and strategic direction. As part of the GEC, J P Chalasani will work closely with the Chairman & Managing Director and Executive Vice Chairman in shaping and driving key strategic initiatives across the Group. J P Chalasani will continue to be designated as a key managerial personnel
Suzlon Energy on Thursday posted a nearly 15 per cent rise in its consolidated net profit to Rs 445 crore fot the December quarter mainly on the back of higher revenues. Its consolidated net profit was Rs 388 crore for the quarter ended December 31, 2024, a company statement said. Revenue from operations rose to Rs 4,228 crore from Rs 2,969 crore in the same period a year ago. In the third quarter, the company had a record orderbook of 6.4 GW with the highest-ever quarter deliveries at 617 MW while 2.4 GW execution is underway. Girish Tanti, Vice Chairman, Suzlon Group, said in the statement, "Key growth priorities under Suzlon 2.0 include launching DevCo as a standalone FDRE project development vertical, transforming OMS into a digital-first platform, setting up smart manufacturing facilities, and capitalising on global opportunities." As electric mobility gains traction, AI capacity expands, and industrial decarbonisation accelerates, the green transition is gaining significant
Home-grown renewable energy solutions provider Suzlon Group on Monday said it has appointed Paulo Fernando Soares as President of its Europe business to accelerate growth in the region. Soares joins the company after a short stint at Sany Renewables in Europe, where he was serving as Managing Director, Suzlon said in a statement. The company said it is strengthening its global leadership structure to drive the next phase of international growth under its Suzlon 2.0 strategy. With four decades of experience in the wind industry, Soares will lead Suzlon's European operations with a mandate to develop regional capabilities, forge strategic partnerships, strengthen customer engagement, and drive market access across Europe. His track record includes leadership roles in business development, sales, and operations, it said. Soares' role will also encompass building a robust organisational framework to ensure long-term success across European markets, the statement said, adding that he h