Company Profile

Suzlon Energy has informed that National Faceless Assessment Centre, Income Tax Department, has issued orders for FY 2015-16 and FY 2016-17 levying penalty in respect of disallowance of claim of depreciation on goodwill, disallowance u/s.14A and disallowance u/s.36(1)(va). The details, as required, in terms of the Listing Regulations are as per enclosed Annexure. Based upon the judicial precedents, the Company believes that the penalty proceedings should have been kept in abeyance until conclusion of the quantum appeal against disallowances. Given that the quantum appeal against subject disallowances is still pending before the Tribunal on merits, the Company also believes that the said penalty orders are premature. The Company is in the process of challenging subject penalty order before appellate / judicial forums and is confident of defending the penalty orders in view of the facts and merits of the case duly supported by favourable judicial precedents.

The above information is a part of company’s filings submitted to BSE.

In continuation to its letter dated 27th December 2023 reporting levy of penalty of Rs 1,36,05,479 upon the Company by Rajasthan GST Department on the ground that the Company has claimed excess Input Tax Credit (ITC) of GST during the FY 2017-18. Suzlon Energy has informed that on the representation by the Company, the Rajasthan GST Department has rectified its order and reduced the penalty by Rs 1,27,16,541 to Rs 8,88,938. 

The above information is a part of company’s filings submitted to BSE.

Suzlon Group has won new order for the development of a 72.45 MW wind power project for Juniper Green Energy. Suzlon will install 23 wind turbine generators (WTGs) with a Hybrid Lattice Tubular (HLT) tower and a rated capacity of 3.15 MW each at the client’s site at the Dwarka district in Gujarat.

This order is for the company's larger rated 3.15 MW, S144-140m turbines from the 3 MW product series. As part of the agreement, Suzlon will supply the wind turbines (equipment supply) and execute the project including, erection and commissioning. Suzlon will also undertake comprehensive operations and maintenance services post-commissioning.  

Suzlon Energy is a pioneer in providing end-to-end wind power solutions for increasing demand for wind energy over the world. It has state of the art R & D centers & training campuses in India.