The KRBL Ltd said that it is "totally unaware about his internal workings" and the company is not in any way connected with Khaitan since 2013.
As its stock price fell sharply by 20 per cent today, Basmati rice-exporting firm KRBL clarified that it has nothing to do with the Agusta Westland helicopter scam, and also not aware of the recent arrest of Gautam Khaitan who was associated with the company till 2013. "...we are totally unaware about his recent arrest by Enforcement Directorate (ED) as mentioned" in a media report, KRBL Ltd said in a regulatory filing.
The company further said that it is "totally unaware about his internal workings" and the company is not in any way connected with Khaitan since 2013.
Khaitan was an independent director from July 30, 2007 to April 18, 2013 and was associated with KRBL in his professional capacity, it added.
"We would like to state KRBL Ltd has nothing to do with the Agusta Westland helicopter scam."
The company said it would not like to comment on media reports and will inform the exchanges as and when any reportable event occurs, it said.
Khaitan was arrested way back in 2013 by both ED and CBI in the Agusta Westland helicopter scam. He is currently out on bail.
KRBL stock tanked today by 19.93 per cent to Rs 373.75 apiece on the BSE.The company sells basmati rice under the brand name India Gate and has a strong presence both in India and the markets abroad.