Suumaya Industries clarifies on money laundering case filed against its promoters; Stock ends 5% higher

The company said, it has not received any such notice or any action from Economic Offences Wing or any other investigative agency.

Jun 25, 2021 03:06 IST India Infoline News Service

Suumaya Industries Limited has reacted to the rumours that “Economic Offences Wing (EOW) has filed a case against promoters of Suumaya Industries Limited in Money Laundering case.”

“These are completely baseless rumours which are spread through various social media platforms to defame the company and its promoters. These rumours seem to have been spread with malafide intentions to malign the company and its promoters and thereby cause damage to their reputation,” company said in a filing on Thursday.

It clarified that neither any of the promoters or the company or any related party of the company have received any such notice or any action from EOW or any other investigative agency.

“We would like to bring to the notice of Exchange and all our stakeholders that we at our Company follow best practises and highest level of corporate governance. Any significant developments on company or promoters will be disseminated to the exchanges on timely basis,” company said.

The company is taking necessary steps to investigate into the matter and take strict legal action under the relevant statutes “against the miscreants for making an attempt to defame the company and its promoters in such a manner that deters any such future attempt to spread baseless rumours”.

Suumaya Industries Limited trade on Friday ended at Rs524.35 per piece up Rs24.95 or 5.00% on the NSE.

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