New Delhi, Jan 12 (IANS): Rashesh Shah, Chairman & CEO, Edelweiss Group, has written a personal note to assure stakeholders that Edelweiss has no relationship with Capstone Forex and all allegations of FEMA violations are false.

"You may have seen some media reports relating to Edelweiss. I am writing to you directly, to assure you that Edelweiss has no relationship with Capstone Forex Pvt. Ltd. and all allegations of FEMA violations are false", Shah said, after being summoned by Enforcement Directorate.

He has assured full cooperation to the agencies. "We appreciate that regulators and agencies have an obligation to investigate; if any information is sought from us, as a responsible corporate citizen, we will of course provide the same".

Shah said he was unable to go personally to the ED office but had sent a representative. "While it is unfortunate that I was unable to go in person to the Directorate of Enforcement (ED), our senior authorised representative did attend in person with the requisite information. Needless to say, if in the future any assistance or support to the investigation is requested from us, we will cooperate fully", Edelweiss Chairman said in a mailer.

He has also refuted reports that Sanjay Nathalal Shah, Chartered Accountant and an independent director of a few of group companies, is alleged to be connected to Capstone.

"Let me reiterate that he has no other association with the Edelweiss Group, nor is he in any way related to me; you will appreciate that Shah is a common name", he added.

Edelweiss is committed to high standards of corporate governance. "I would like to personally reiterate that these allegations are false and we remain committed to the highest governance standards, built on a strong foundation of ethics. We take our responsibilities as good corporate citizens extremely seriously. We find our strength in the unshaken trust reposed by our customers, shareholders, partners and employees", Shah said.