NEW DELHI: Shares of KRBL plunged 20 per cent in Mondays trade after media reports that former director Gautam Khaitan had been arrested by the Enforcement Directorate in connection with AgustaWestland helicopter scam.ED got fresh leads in the AgustaWestland helicopter scam, which reportedly indicated that Khaitan played a key role in routing kickbacks to the beneficiaries.
Anoop Kumar Gupta, Joint Managing Director, KRBL, however, clarified that the firm had nothing to do with the Agusta deal and Khaitan was an independent director of the company from 2007 to 2013.
Talking to ETNow, he said the investigations would not impact the company any which way.
The scrip opened at Rs 461.75 and touched an intraday high and low of Rs 461.75 and Rs 373.50, respectively, in Mondays trade.However, it recovered a bit later and around 11:15 am, the stock was 14.14 per cent down at Rs 400.80.
The BSE Sensex was 0.23 per cent down at 35,607.