Tulsi Tanti News
The annual pay of these next-generation leaders remains relatively low, as against the overall average payout of over Rs.20 crore for CEOs
The auditors of wind turbine maker Suzlon have expressed concern over the company's financial health as it faces liquidity issues and is yet to make payments to its lenders and vendors.
Suzlon chairman Tulsi Tanti said the sale was at a "minor loss" but the proceeds from the deal will help reduce borrowings, cut interest burden and free up more capital for projects to help it return to profitability next fiscal.
Wind turbine-maker Suzlon Energy said its German subsidiary REpower has bagged orders for supply of 219 mw machines worth 247 million euros in the June-July period in five countries.
Tulsi Tanti, chairman of Suzlon, has taken a Rs 1.46-cr pay cut as Suzlon slips into red.
Suzlon will sell stake in its China manufacturing unit to China Power New Energy Development to reduce it debt.
Suzlon, the wind energy company, is being buffeted by high-velocity headwinds. It is short of money - and has loads of debt to deal with.