The National Stock Exchange of India Limited (NSE) has issued a warning letter to Suzlon Energy Ltd for failing to comply with disclosure rules. The warning pertains to the company's late submission of an analyst call disclosure.
In its letter, dated July 29, the NSE pointed out that Suzlon had disclosed an analyst call held on November 6, 2023, on the same day.
This, according to the NSE, did not meet the requirements set out under SEBI's LODR (Listing Obligations and Disclosure Requirements) rule, which mandates that listed entities must inform the exchange of any scheduled 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 aforesaid non-compliance on your part is viewed seriously. You are, hereby, warned and advised to be careful in the future, exercise due caution, and initiate corrective steps to avoid the recurrence of such lapses so as to ensure due compliance with the applicable provisions of SEBI LODR," the NSE stated.
The NSE further cautioned that any future violations by Suzlon Energy would be met with serious consequences and appropriate action would be taken.
