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Sebi appoints forensic auditor to vet financial statements of Suzlon Energy

Suzlon Energy on Tuesday said market regulator Sebi has appointed forensic auditor to carry out forensic audit of its financial statements.

Sebi appoints forensic auditor to vet financial statements of Suzlon Energy
In order to further improve transparency, the Securities and Exchange Board of India (Sebi) has recently mandated mutual funds to cast votes compulsorily in respect of company resolutions on some specified matters.

Suzlon Energy on Tuesday said market regulator Sebi has appointed forensic auditor to carry out forensic audit of its financial statements.

“The company is in receipt of a letter from the Securities and Exchange Board of India (Sebi) dated March 22, 2021, informing the company that it (Sebi) has appointed the forensic auditor to carry out forensic audit with respect to the financial statements of the company,” it said in a regulatory filing.

Sebi has stated in its letter that this appointment is in the context of disclosures of financial information and business transactions and if there are any violations of the applicable provisions of the SEBI Act or the Securities Contracts (Regulations) Act, 1956, and the Companies Act, 2013 or other applicable laws, it added.

Suzlon Energy also stated in the filing that it “being global company, having strong internal controls and an effective audit system; believes that the company has been and is compliant with the applicable laws and regulations.”

The company is committed to extending its fullest cooperation in completion of the forensic audit, it added.

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