Suzlon Energy Warned By NSE And BSE Over SEBI LODR Violations Following Director’s Retirement

Suzlon Energy has received warning letters from the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE) for failing to comply with SEBI’s Listing Obligations and Disclosure Requirements (LODR) requirements.

The warnings are on the company’s handling of disclosures following the retirement of Independent Director Marc Desaedeleer on June 8, 2024. The discussions highlighted that Suzlon failed to provide confirmation of material grounds for resigning and withheld essential directorship data. Also, the corporation failed to provide timely notification of an analyst call scheduled for the following day. Both the BSE and the NSE emphasised the importance of stricter compliance with Corporate Governance standards and warned of more serious repercussions for future violations. Suzlon confirmed that there was no meaningful impact on its operations.