Bikaji Foods MD Summoned Amid Rajasthan Premier League Probe

Bikaji Foods International's Managing Director has been summoned by the Enforcement Directorate in connection with an investigation into the Rajasthan Premier League. The company assures full cooperation and states it participated solely as a sponsor with no financial impact anticipated.

The Enforcement Directorate has summoned Bikaji Foods International's Managing Director as part of an investigation into the Rajasthan Premier League, according to a regulatory filing on Tuesday. The summons, connected to the ongoing probe by the Rajasthan Cricket Association, requests the director's in-person appearance under the Prevention of Money Laundering Act.

Bikaji Foods insists it is not in default and intends to cooperate fully with authorities. It emphasizes that their involvement in the league was purely as a sponsor and unrelated to the event's management or operations. The company reiterated its transparency, stating all sponsorship payments were properly documented and executed through banking channels.

In a later statement, Bikaji clarified that their contribution to the Rajasthan Premier League was a legitimate business activity, aimed at enhancing brand visibility. Complete transaction records have been maintained for scrutiny, indicating no ulterior motives behind the sponsorship. Currently, there is no expected financial impact on Bikaji Foods from this matter.

(With inputs from agencies.)