We do not have any relationship with Capstone Forex, says Edelweiss

Claims that Sanjay Shah is director at some group companies; no other link

Edelweiss on Sunday said its group entities do not have any relationship with Capstone Forex, which is being probed by the Enforcement Directorate (ED) for an alleged multi-crore forex violation.

The firm also said Sanjay Nathalal Shah, independent director on some group firms, who is under scanner for alleged connection with Capstone, has no other relationship with the group. Rashesh Shah, chairman and chief executive, Edelweiss Financial Services group, said all allegations of the Foreign Exchange Management Act (FEMA) violations were false. “Sanjay Nathalal Shah has no other association with the Edelweiss group. Nor is he in any way related to