Promoter Sanjeev Arora arrested by ED on May 9, 2026 under PMLA for alleged FEMA violations in mobile phone exports.
Allegations involve export transactions worth approximately ₹157.12 crore, including overseas exports of ₹102.50 crore.
Company states all exports were genuine, with full payment received and suppliers paid, positioning itself as a victim of supplier-side GST fraud.
Financial and operational impact remains unquantified as the matter is under ongoing investigation by authorities.