Capital markets regulator Sebi has imposed a penalty of nearly Rs 29 crore on Suzlon Energy after finding that the company misrepresented its financial position through a series of transactions involving subsidiaries, inflated profits and inadequate disclosures.
In a 96-page order issued on May 29, Sebi held that Suzlon and several of its former executives violated provisions of the Sebi Act, PFUTP Regulations, listing regulations and disclosure norms.
