KRBL Limited updates on detention of Joint MD

The Joint Managing Director of KRBL Limited, Mr. Anoop Kumar Gupta is detained by the Enforcement Directorate (ED) while cooperating with the investigation in the Augusta Westland case. He was subsequently sent to 5 days custody of ED as opposed to the 14 days sought vide the order of Special Judge, Rouse Avenue Courts dated 30 January 2021.

Mr.Gupta was detained for further investigation into the affairs of Rawasi Al Khaleej General Trading (RAKGT) LLC, Dubai, where KRBL Limited had indirect minority shareholding. The transactions in question happened after 31 March 2009 when, KRBL Limited had already transferred its entire indirect shareholding in RAKGT. All transactions between KRBL Limited and RAKGT after 31 March 2009 pertained to sale of rice. Such transactions were duly made through the proper banking channel and were disclosed in compliance with the law.

We would like to reiterate that KRBL Limited or Mr. Gupta has nothing to do with the Augusta Westland case. KRBL Limited or Mr. Gupta was neither named in the charge-sheet / complaints nor has he been arrayed as an Accused in the Augusta Westland Case.

We are confident that the above stated matter will be resolved and we will take appropriate legal action in due course.

We once again would like to assure all our stakeholders that our operations are being carried out smoothly and will continue to be carried out in such a manner.

Shares of KRBL LTD. was last trading in BSE at Rs.236.55 as compared to the previous close of Rs. 229.15. The total number of shares traded during the day was 43733 in over 1119 trades.

The stock hit an intraday high of Rs. 244.15 and intraday low of 234.25. The net turnover during the day was Rs. 10391847.

Source : Equity Bulls

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