Desk
Share
Suzlon Energy : Suzlon Energy has become a favorite stock for investors for quite some time, as it has given huge returns in the last few years. According to BSE, its stock has given a return of 208.79 percent in the last 1 year and 896.63 percent in the last 2 years. But now on Tuesday, Suzlon Energy has received a warning from the National Stock Exchange (NSE) and BSE. The stock exchanges have given a warning letter to the company for not complying with SEBI 's listing rules and disclosure rules. The exchanges have mentioned not giving information about the resignation of independent director Mark Desedelaar.
What is the matter
Mark Desedelaar resigned from the board of Suzlon on 8 June 2024. However, the company delayed in informing the exchanges, thereby violating SEBI rules. As per the rules, companies are required to inform the stock exchanges about such events within two working days.
Suzlon then failed to provide timely information for the analyst call held the next day.
will have to suffer the consequences
Both NSE and BSE stressed the importance of following SEBI's corporate governance rules and cautioned the company to be more cautious in making disclosures in the future. They warned that there could be serious consequences if such a recurrence happens.
Suzlon said the warning has no impact on the company's financial, operational, or other activities. On Tuesday, Suzlon's stock closed at Rs 79.73. The stock's 52-week high and low is Rs 86.04 and Rs 25.74, respectively.
