Cyril Amarchand Mangaldas acted as the legal counsel for Suzlon Energy Limited (“SEL”/ “Company”), and certain of its directors and erstwhile KMPs (“collectively referred to as Noticees”) with respect to the Show Cause Notice (“SCN”) dated November 09, 2022, issued by SEBI to the Noticees in respect of certain specific transactions between the Company and its domestic subsidiaries, and non-disclosure of a contingent liability in the financial information of the Company, in earlier financial years from 2013-14 to 2017- 18.
The matter was heard by the Adjudicating Officer, SEBI on May 22, 2025, and an order was passed by SEBI on June 27, 2025 with a finding that the violations as alleged are not established and therefore disposing of the Adjudication Proceedings initiated against the Noticees without imposition of any penalty.
The matter was concluded under the guidance of L. Viswanathan, Senior Partner.
Vasudha Goenka, Partner advised on the matter; with the support from Darshan Furia, Principal Associate; Sangram Mallick, Principal Associate; Arnav Misra Senior Associate; Kushal Tekriwal, Associate; and Haryashwasingh Thakore, Associate.
