KRBL clarifies on ED arresting former director in Augsta scam; stk dips 20%

The stock locked in lower circuit of 20% at Rs 373 after the media report suggested that ED arrested former director Gautam Khaitan in Agusta scam.

KRBL hit its lower circuit of 20% at Rs 373 on the BSE with only sellers seen on the counter,  after a media report suggested that the Enforcement Directorate (ED) has arrested former director, Gautam Khaitan, in Agusta Westland helicopter scam.

KRBL, however, clarified and said that the company has nothing to do with this scam.

“Gautam Khaitan was an independent director of the company from July 30, 2007 to April 18, 2013 and during his tenure as an independent director in the company, he was associated in his professional capacity and we are totally unaware about his