Have limited involvement in Rajasthan Premier League case, says Bikaji Foods
This story was originally published at 18:25 IST on 9 September 2025
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MUMBAI – Bikaji Foods International Ltd. Tuesday clarified that its involvement with the Rajasthan Premier League was limited to sponsorship of the event. "The sponsorship was carried out in the ordinary course of our business, as a part of legitimate commercial activities aimed at promotion, visibility and development of business interest," Bikaji Foods said in a notice to stock exchanges.
Earlier in the day, the company had said the Enforcement Directorate has summoned its Managing Director Deepak Agarwal under the Prevention of Money Laundering Act, 2002. The company has now clarified that the summons was related to present certain records before the authority, related to transactions with the Rajasthan Cricket Association. The company also said that it remains committed to extending full cooperation to the authorities and complying with all legal requirements in this matter.
The company said it has no role whatsoever, in the management, conduct or operational aspects of the Rajasthan Premier League, beyond the sponsorship. Bikaji Foods further clarified that all the payments made for sponsorship were duly accounted for, supported by proper documentation and effected 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," it said.
For the quarter ended June, the company reported a consolidated net profit of INR 598.96 million on a consolidated revenue of INR 6.53 billion. Tuesday, shares of Bikaji Foods closed at INR 769.65 on the National Stock Exchange, down 2.1% from the previous close. End
Reported by Gopika Balasubramanium
Edited by Nishant Maher
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