News reports that Mumbai Enforcement Directorate (ED) had summoned Rashesh Shah, the founder-promoter of Edelweiss group, in relation to a ₹2,000-crore forex smuggling matter, saw the share price of Edelweiss Financial Services crash by 10 per cent in the final hour of trading on Friday.

An ED notice issued on January 3 to Shah, that was available in the public domain, showed that the investigative agency’s assistant director in Mumbai, Sunil D Pisharody had called him for questioning on January 9. The summons was with regard to the dealings of Capstone Forex Pvt Ltd, a Mira Road, Mumbai’s distant suburb registered company, the document showed.

The notice said Shah was to attend the ED Balard Pier office at “11.30 am on Friday to give evidence, produce books of accounts and other documents specified under the schedule and not to depart until to receive my permission to do so”.

In a clarification issued to the stock exchanges, Edelweiss Financial said, “We have received a communication from ED to appear and provide information about Edelweiss Group Companies’ dealing with a company called Capstone Forex.

“We would like to state that none of our companies have any transaction with this company. We further deny the wild baseless allegations contained in the news items, which are apparently attributed to unidentified sources.”