NSE Warns Suzlon Energy For Disclosure Negligence
The LODR rule requires a listed entity to inform the schedule of analysts or institutional investors to meet at least two working days in advance.
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Solar energy solution by Suzlon Energy Ltd. (Source: Company website)
The National Stock Exchange of India Ltd. has sent a warning letter to Suzlon Energy Ltd. for its failure to adhere to disclosure regulations.
In its letter to the renewable energy solution provider, the NSE said the disclosure regarding an analyst's call held on Nov. 6, 2023, was submitted to the exchange on the same day.
The disclosure seems to be at shorter notice than required under the Securities and Exchange Board of India's Listing Obligations and Disclosure Requirements rule, the letter dated July 29 said.
The LODR rule requires a listed entity to inform the schedule of analysts or institutional investors to meet at least two working days in advance (excluding the date of intimation and date of meet).
"... You are, hereby, warned and advised to be careful in 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 said.
Any aberration in the future on the part of the company, the NSE said, would be viewed seriously and appropriate action would be initiated.
(With Inputs From PTI)
