Moneycontrol PRO
Check Credit Score
Check Credit Score
HomeNewsBusiness

Nothing to do with Agusta Westland helicopter scam: KRBL

The KRBL Ltd said that it is "totally unaware about his internal workings" and the company is not in any way connected with Khaitan since 2013.

June 25, 2018 / 07:40 PM IST
An Apache helicopter flies during a media availability to show the 3 Regiment Army Air Corps preparing for the forthcoming royal wedding between Prince Harry and Meghan Markle, at Wattisham Airfield, Britain May 10, 2018.  Aaron Chown/Pool via Reuters - RC1F28BA2F00

An Apache helicopter flies during a media availability to show the 3 Regiment Army Air Corps preparing for the forthcoming royal wedding between Prince Harry and Meghan Markle, at Wattisham Airfield, Britain May 10, 2018. Aaron Chown/Pool via Reuters - RC1F28BA2F00

 
 
live
  • bselive
  • nselive
Volume
Todays L/H
More

As its stock price fell sharply by 20 per cent today, Basmati rice-exporting firm KRBL clarified that it has nothing to do with the Agusta Westland helicopter scam, and also not aware of the recent arrest of Gautam Khaitan who was associated with the company till 2013. "...we are totally unaware about his recent arrest by Enforcement Directorate (ED) as mentioned" in a media report, KRBL Ltd said in a regulatory filing.

The company further said that it is "totally unaware about his internal workings" and the company is not in any way connected with Khaitan since 2013.

Khaitan was an independent director from July 30, 2007 to April 18, 2013 and was associated with KRBL in his professional capacity, it added.

"We would like to state KRBL Ltd has nothing to do with the Agusta Westland helicopter scam."

The company said it would not like to comment on media reports and will inform the exchanges as and when any reportable event occurs, it said.

Khaitan was arrested way back in 2013 by both ED and CBI in the Agusta Westland helicopter scam. He is currently out on bail.

KRBL stock tanked today by 19.93 per cent to Rs 373.75 apiece on the BSE.

The company sells basmati rice under the brand name India Gate and has a strong presence both in India and the markets abroad.

PTI

Discover the latest business news, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!

Advisory Alert: It has come to our attention that certain individuals are representing themselves as affiliates of Moneycontrol and soliciting funds on the false promise of assured returns on their investments. We wish to reiterate that Moneycontrol does not solicit funds from investors and neither does it promise any assured returns. In case you are approached by anyone making such claims, please write to us at grievanceofficer@nw18.com or call on 02268882347