Suzlon Energy has been levied a penalty of ₹25 lakh by the Office of the Deputy Director, Enforcement Directorate, Mumbai Zonal Office-II. The penalty pertains to a procedural matter involving a bonafide transaction that had been reported to the Reserve Bank of India in a timely manner.
According to the details provided in the company’s filing, the penalty was imposed due to contravention of Section 7 of the Foreign Exchange Management Act (FEMA), 1999, read with regulation 15 of the Foreign Exchange Management (Export of Goods and Services) Regulations, 2000. The violation involved a 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 export of services, resulting in an open entry in the Export Data Processing and Monitoring System (EDPMS).
The company received the order from the Enforcement Directorate on 23rd March 2026. Despite the penalty, Suzlon Energy has stated that there is no material impact on its financial, operational, or other activities.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).