NSE Warns Suzlon Energy for Disclosure Rule Violation

The National Stock Exchange of India Limited (NSE) has issued a warning to Suzlon Energy Ltd for failing to comply with disclosure rules. The violation involved late submission of an analyst's call disclosure. The NSE has advised Suzlon to take corrective measures to ensure future compliance.

The National Stock Exchange of India Limited (NSE) has issued a warning letter to Suzlon Energy Ltd for non-compliance with disclosure rules.

According to the NSE, a disclosure regarding an analyst's call held by Suzlon on November 6, 2023, was submitted to the exchange on the same day, which violates the Sebi's LODR (listing obligations and disclosure requirements) rule.

As per the LODR rule, listed entities must inform the schedule of meetings with analysts or institutional investors at least two working days in advance, excluding the date of intimation and the date of the meeting.

The NSE's letter, dated July 29, stressed the seriousness of this non-compliance and advised Suzlon to exercise due caution and initiate corrective measures to prevent future lapses. The NSE warned that any future deviations would be met with appropriate action.