Suzlon Energy Limited Faces Penalty of Rs. 25 Lacs from Enforcement Directorate
Suzlon Energy Limited announced that the Office of the Deputy Director, Enforcement Directorate, Mumbai Zonal Office II, has levied a penalty of Rs. 25,00,000 (Rupees Twenty Five Lacs Only) on the company.The penalty relates to a procedural matter concerning a bonafide transaction that was previously reported to the Reserve Bank of India. The action is linked to a contravention of Section 7 of FEMA, 1999, read with regulation 15 of Foreign Exchange Management (Export of Goods and Services) Regulations, 2000. This involves failure to export goods against a long-term export advance and non-receipt of approval from the Reserve Bank of India for the set-off of a long-term export advance against an invoice for the export of services, resulting in an open entry in EDPMS.
According to the company, the penalty is not expected to have a material impact on its financial, operational, or other activities. The penalty order was received on March 23, 2026.
Details of the Enforcement Directorate Action:
| Detail | Information |
|---|---|
| Authority Name | Office of Directorate of Enforcement, Government of India, Mumbai-II Zonal Office |
| Penalty Amount | Rs. 25,00,000 (Rupees Twenty Five Lacs Only) |
| Date of Order Received | March 23, 2026 |
| Alleged Violation | Contravention of Section 7 of FEMA, 1999, read with regulation 15 of Foreign Exchange Management (Export of Goods and Services) Regulations, 2000. |
| Impact on Company Activities | No material impact. |
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