Enforcement Directorate Summons: Edelweiss Says No Dealings With Capstone Forex
Rashesh Shah, chairman and chief executive officer of Edelweiss Financial Service Ltd., looks on during a panel discussion at the Bloomberg India Economic Forum in Mumbai, India. (Photographer: Dhiraj Singh/Bloomberg)

Enforcement Directorate Summons: Edelweiss Says No Dealings With Capstone Forex

Edelweiss Financial Services Ltd. said that it received communication from the Enforcement Directorate to appear and provide information about group companies' dealings with a firm called Capstone Forex Pvt. Ltd.

"We would like to state that none of our companies have any transactions with this company - Capstone Forex," Edelweiss Financial Services said in a statement. The firm denies the "wild and baseless allegations" and the inference drawn from them, the statement added.

Earlier in the day, Bloomberg News reported citing an unnamed official, that the Enforcement Directorate had summoned Edelweiss Group Chairman Rashesh Shah in connection with an alleged foreign-exchange violation by his firm.

Shares of Edelweiss Financial Services slid 9.5 percent to Rs 106 apiece, the lowest since Nov. 7, 2019. It had fallen 40 percent in the last one year.

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