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India fines Suzlon Energy over financial reporting lapses

India's market regulator fined Suzlon Energy 159.5 million rupees for misstated financials. The firm plans to appeal the ruling regarding past disclosures.

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SUZLON ENERGY LTD faces 159.5 million rupees ($1.68 million) in penalties plus fines on its chairman and vice-chairman for financial misreporting. India's market regulator alleges the company inflated net worth through circular transactions with subsidiaries. The Securities and Exchange Board of India (SEBI) issued the order on Friday after a 2019 complaint.

Inflated Financials and Circular Transactions
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