Suzlon Energy Limited has announced the cessation of Mr. Gautam Doshi as Independent Director following the completion of his tenure. The renewable energy company informed stock exchanges about this board change under regulatory compliance requirements, with the formal communication issued on May 3, 2026.

Director Tenure Completion

Mr. Gautam Doshi's second term as Independent Director of Suzlon Energy concluded on May 3, 2026. Accordingly, he ceased to hold the position of Independent Director and Director of the company with effect from May 4, 2026. The announcement was communicated to both BSE Limited and National Stock Exchange of India Limited in accordance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Committee Positions

Along with his directorship, Mr. Doshi also stepped down from several key committee positions within the company's board structure:

Regulatory Compliance Details

The company provided comprehensive details as required under SEBI Listing Regulations:

Management Acknowledgment

Suzlon Energy's management extended sincere appreciation and gratitude to Mr. Gautam Doshi for his valuable contributions during his tenure as Independent Director. The announcement was signed by Company Secretary Geetanjali S. Vaidya and communicated to stock exchange members and the public at large.

The cessation follows standard corporate governance practices where Independent Directors complete their maximum permissible tenure as per applicable regulatory requirements.

Suzlon Energy Limited has secured approval from the National Company Law Tribunal (NCLT) Ahmedabad Bench for its comprehensive scheme of arrangement involving reorganisation and reclassification of reserves. The company disclosed this development through a regulatory filing under Regulation 30 of the SEBI Listing Regulations on April 30, 2026.

NCLT Order Details

The NCLT issued its order on April 29, 2026, sanctioning the Scheme of Arrangement in the nature of Reorganisation and Reclassification of Reserves. The scheme will become effective from September 30, 2024, designated as the appointed date, once the certified copy of the order is filed with the Registrar of Companies, Gujarat.

Reserve Restructuring Framework

Under the approved scheme, Suzlon Energy will undertake a systematic adjustment of its financial reserves. The negative balance in the company's Retained Earnings as on the appointed date will be adjusted chronologically against multiple reserve categories. This restructuring approach follows a specific hierarchy for reserve utilisation.

The reserves identified for adjustment include:

• Capital Reserve
• Capital Contribution
• Capital Redemption Reserve
• Securities Premium
• General Reserve

Additionally, the company will reclassify the remaining balance in the General Reserve Account to the Retained Earnings Account as part of the reorganisation process.

Financial Reporting Timeline

Suzlon Energy has indicated that the complete accounting impact of this scheme, along with detailed disclosures and explanatory notes, will be presented in the company's audited financial statements for the year ended March 31, 2026. This presentation will follow due consideration and formal approval by the company's Board of Directors.

Regulatory Compliance

The disclosure was made in continuation of the company's previous communications dated October 28, 2024, and December 12, 2025, maintaining transparency with stakeholders throughout the approval process. The order document is available on the company's official website at www.suzlon.com for public access and review.