The company Suzlon Energy Limited has revealed that it has been fined ₹25 lakh by the Enforcement Directorate (ED), Mumbai Zonal Office-II. Concerning the set-off of long-term export progress, the penalty is related to a procedural item under FEMA, 1999.
There will be no significant effect on the company’s finances, operations, or other commercial activities, and the company has already informed the Reserve Bank of India (RBI) that the transaction was legitimate. The company is entirely compliance with regulatory regulations, according to Geetanjali S. Vaidya, Company Secretary of Suzlon Energy, who stressed that this was a procedural matter for a valid transaction.
Wind energy solutions and sustainable power generation are the forte of Suzlon Energy Limited, an industry-leading renewable energy firm situated in India. Renewable energy solutions are provided by this BSE and NSE listed company, which operates in India and around the world.
