Bikaji Foods International on Tuesday issued a statement after its Managing Director was summoned by the Enforcement Directorate (ED) in an investigation linked to the Rajasthan Premier League (RPL) under the Prevention of Money Laundering Act, 2002.
The company said the ED summons directed the Managing Director to appear in person on behalf of Bikaji Foods, along with relevant records related to transactions with the Rajasthan Cricket Association.
In its clarification, Bikaji Foods stated, “Our Company, along with the other parties involved in this Rajasthan Premier League, has received a summon directing the appearance of our Managing Director in-person on behalf of the company before the authority, along with the presentation of records connected with Rajasthan Cricket Association Transaction, in this respect.”
The company maintained that its role in the league was only as a sponsor. It said the sponsorship was part of its regular business activities aimed at brand visibility and growth. Bikaji Foods added that it had no role in the management or conduct of the Rajasthan Premier League.
The statement further noted that all payments were properly documented and made through valid banking channels. “We have maintained complete records of the sponsorship transaction, which are available for inspection and will be duly furnished before the Enforcement Directorate, as and when required."
"The sponsorship was taken solely in the interest of business promotion, brand development and outreach, which is a part of growth strategy. We firmly affirm that there was no other purpose, motive or intention behind such sponsorship," it further added.
The company assured that it remains committed to extending full co-operation with the authorities and complying with all legal requirements in this matter.
The company said the ED summons directed the Managing Director to appear in person on behalf of Bikaji Foods, along with relevant records related to transactions with the Rajasthan Cricket Association.
In its clarification, Bikaji Foods stated, “Our Company, along with the other parties involved in this Rajasthan Premier League, has received a summon directing the appearance of our Managing Director in-person on behalf of the company before the authority, along with the presentation of records connected with Rajasthan Cricket Association Transaction, in this respect.”
The company maintained that its role in the league was only as a sponsor. It said the sponsorship was part of its regular business activities aimed at brand visibility and growth. Bikaji Foods added that it had no role in the management or conduct of the Rajasthan Premier League.
The statement further noted that all payments were properly documented and made through valid banking channels. “We have maintained complete records of the sponsorship transaction, which are available for inspection and will be duly furnished before the Enforcement Directorate, as and when required."
"The sponsorship was taken solely in the interest of business promotion, brand development and outreach, which is a part of growth strategy. We firmly affirm that there was no other purpose, motive or intention behind such sponsorship," it further added.
The company assured that it remains committed to extending full co-operation with the authorities and complying with all legal requirements in this matter.
You may also like
Omar Abdullah seeks long-term solution as NH closure worries Kashmiri fruit growers
Stacey Solomon admits Joe Swash refused to have kids with her over heartbreaking fear
Panic in beautiful country turning into 'Venice in the desert'
England player ratings vs Serbia as four 8/10 stars shine in dominant victory
Big B shares his scary jungle safari encounter with an African elephant
