ED flags missing forex records at Rajesh Exports, probes Rs 1,035 cr African mines bet
Enforcement Directorate alleges Bengaluru-based gold major Rajesh Exports failed to produce foreign transaction records during FEMA searches, citing gaps on a Rs 1,035 crore African mines investment, Rs 600 crore allegedly siphoned via NRI benamidars, a 40% stock discrepancy and a Rs 17,000/month MD salary against Rs 7.7 lakh crore revenue.
ED alleges Rajesh Exports failed to produce foreign transaction records during FEMA searches, citing missing documentation on Rs 1,035 crore African mines investment, Rs 600 crore siphoned via NRI benamidars, and 40% stock discrepancy at the gold/jewellery firm.