Valcambi SA
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Rajesh Exports defends books as SEBI flags Rs 15.15 lakh crore revenue misrepresentation
Jeweller blames Valcambi reporting confusion after SEBI's interim order alleging FY21-FY25 misstatements, suspicious Rs 11,400 crore Affluence broker trades, and MD Mehta's personal derivative dealings. Stock fell 5% as 97-99% of consolidated revenue ties to overseas subsidiaries.
Indian Express · Business · 6/4/2026, 4:23:07 PM
Rajesh Exports chair defends ₹15.15 lakh crore revenue after SEBI alleges undisclosed Valcambi subsidiary
Chairman Rajesh Mehta pushed back on SEBI charges that the jeweller misrepresented ₹15.15 lakh crore ($158.17 bn) in revenue through undisclosed overseas subsidiaries, primarily Swiss refiner Valcambi. Mehta says regulator overlooked consolidated filings; 97-99% of revenue flows from overseas units that refined 3,000 tons of gold over FY21-25.
The Hindu BusinessLine · 6/4/2026, 11:25:10 AM
SEBI bars Rajesh Exports, founder Rajesh Mehta over alleged Rs 15.15 lakh crore revenue misstatement
Interim order alleges jewellery maker inflated revenues via overseas subsidiaries including Valcambi SA, and diverted Rs 338.90 crore for personal derivatives trades through Affluence Shares and Stocks. Stock has collapsed 44.63% with shares at Rs 104.65.
Business Today · Latest · 6/4/2026, 10:37:51 AM
SEBI bars Rajesh Exports promoter, alleges ₹15.15 lakh cr revenue misrepresentation via Swiss arm Valcambi
Interim order against promoter Rajesh Mehta cites 97-99% of FY21-FY25 revenues routed through overseas subsidiary Valcambi, with ₹11,487 cr in disputed sales and ₹7.4 cr in personal transfers. Forensic audit ordered; stock hit 5% lower circuit at ₹103.92, down 80% over three years. LIC holds 10.8%.
Outlook Business · 6/4/2026, 8:55:01 AM