Edelweiss Group founder and chairman Rashesh Shah was summoned by the Enforcement Directorate (ED) on Thursday (January 9) in connection with an alleged forex scam.
The ED in its summon asked Shah to be present before it to "give evidence and to produce books of account or other documents" in a forex case involving a company called Capstone Forex Pvt LTD
The ED's probe documents, accessed by BusinessToday.In, claim Shah's "front entities" gave the lead about his involvement in the alleged scam.
Edelweiss Finance Services has denied allegations and said none of its companies had made any transactions with the concerned firm.
"We have received a communication from the Enforcement Directorate to appear and provide information about Edelweiss group companies' dealings with a company called Capstone forex Pvt LTD. We would like to state that none of our companies have any transactions with this company - Capstone Forex Pvt ltd. We further deny wild and baseless allegations contained in the news items which are apparently attributed to unidentified sources. We are in fact shocked at the spread of unauthenticated allegations and the inference being drawn from it," the media statement read.
(This is a developing story. More details awaited.)