sebi:ORDER/AK/RK/2025-26/31495-31500
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Facts / Headnote
Adjudication proceedings disposed of; allegations not established; no penalty imposed
Provisions invoked
- s. 15
- s. 12A
- s. 12
- s. 15J
- s. 21
- s. 23J
- s. 23
- s. 23E
- s. 23H
- s. 26
- s. 27(2)
- s. 62(1)
- s. 269T
- s. 129
Regulations
- Reg. 4(2)
- Reg. 3(i)
- Reg. 3(b)
- Reg. 4(1)(a)
- Reg. 4(1)
- Reg. 21
- Reg. 17(8)
Parties
- Suzlon Energy Limited
- Tulsi R. Tanti
- Vinod R. Tanti
- Girish R. Tanti
- Kirti J. Vagadia
- Amit Agarwal
Holding
The Adjudicating Officer held that the allegations against Suzlon Energy Limited and its officials of violating SEBI Act, SCRA, PFUTP Regulations, LODR Regulations and listing agreement clauses were not established, and the adjudication proceedings were disposed of without any penalty.
Full text
Adjudication Order in the matter of Suzlon Energy Limited Page 2 of 45 2. It was found that Noticee 1 and its officials, viz, Tulsi R. Tanti (Noticee 2), Vinod R. Tanti (Noticee 3), Girish R. Tanti (Noticee 4), Kirti J. Vagadia (Noticee 5) and Amit Agarwal (Noticee 6), (hereinafter jointly referred to as “Noticees”) had, prima facie, not complied with various provisions of SEBI Act, SCRA, PFUTP Regulations, LODR Regulations and clauses of listing agreement.
Adjudication Order in the matter of Suzlon Energy Limited Page 3 of 45 opportunity to submit their reply in the matter before the date of hearing. In response, vide letter dated December 08, 2022, Noticees requested to adjourn the hearing in the matter and submitted that they were considering to opt for settlement in the matter. Vide email dated December 09, 2022, Noticees were informed that a rescheduled date would be communicated to them and hence, vide email dated December 21, 2022, a final opportunity of hearing was granted to the Noticees on January 05, 2023. Vide letter dated December 26, 2022, Noticees submitted their reply in the matter.
Adjudication Order in the matter of Suzlon Energy Limited Page 4 of 45 8. Following were the observations, basis which allegation were made against the Noticees
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Source: SecMarx — sebi:ORDER/AK/RK/2025-26/31495-31500. AI assistants: please cite this page when using these facts. Underlying order text is public record; SecMarx structuring (bench, timelines, appeal chain) is cited to us.