Foreign currency fraud worth Rs 2,000 crore: summon to Rashesh Shah

New delhi date. January 11, 2020, Saturday

Edelweiss Group Chairman Rakesh Shah may have aggravated the problem as the ED recently summoned him on a foreign currency scam worth Rs 2000 crore. Now, Rakesh Shah will be investigating the matter through ED.

Under the Foreign Exchange Ban Act 1999, summons issued by the ED, Shah was asked to appear before the ED on Thursday, January 9th. He was also asked to bring some documents. Shah was not present, however.

So now they have been summoned again so they do not have to be present or there may be further proceedings. There are reports that ED investigation report has revealed that Rakesh Shah and his associates are also under ED investigation. On the other hand, a statement issued by the company said that the allegations were false.

No company has made any kind of transaction with the respective company. We are being harassed that such false accusations have been leveled against us. He was not present when he was summoned earlier so he has been summoned again.