Edelweiss Financial Services asked to appear before ED today

New Delhi: Financial services firm Edelweiss Financial Services on Tuesday said it has received a communication from the Enforcement Directorate (ED) to represent and appear before it on Wednesday.

The development follows the statement by the company's Chairman Rashesh Shah stating the firm has no relationship with Capstone Forex, which is being investigated by the ED for foreign exchange rules violation.

"The company has received a communication from the Office of the Enforcement Directorate to represent and appear before them on January 15, 2020 and the company shall do the needful," Edelweiss Financial Services said.

Earlier in a regulatory filing, Shah said the allegation of FEMA (Foreign Exchange Management Act) violation is "false" and the company will fully cooperate in the investigation.

The ED had recently summoned Shah in connection with the company's dealings with Capstone Forex Pvt Ltd.