New Delhi, May 29 -- The Securities and Exchange Board of India (Sebi) has imposed penalties on Suzlon Energy and several of its executives, alleging that the company used a series of intra-group transactions to present a misleading picture of its finances.In a 96-page order issued on Friday, the market regulator said Suzlon structured transactions between its subsidiaries in a manner that artificially inflated profits, net worth and investor perception, even though the dealings lacked genuine economic substance.

Girish Tanti, a non-executive director during the investigation period, was fined Rs.5.75 crore and Vinod Tanti was penalized with Rs.5.45 crore. Kirti J. Vagadia, who was the company's chief financial officer in 2015-2016 was f...