ED raids Rajesh Exports across nine sites, flags $20M benami deals and 40% gold shortfall
Enforcement Directorate searches at nine Rajesh Exports locations in Bengaluru and Mumbai surfaced a 40% gold inventory shortfall, $20M in benami share transactions, Rs 3,000 crore of suspect UAE trade receivables and Rs 1,000 crore of African mining investments missing from subsidiary books.
ED raided nine Rajesh Exports locations in Bengaluru and Mumbai, finding benami share deals worth $20M, 40% gold inventory shortfall, Rs 3,000 crore suspect UAE trade receivables, and Rs 1,000 crore African mining investments missing from subsidiary records.
Why this matters
ED action escalates scrutiny on Rajesh Exports, following SEBI probes into revenue documentation gaps and a chairman dispute over Valcambi EBITDA versus standalone revenue treatment.
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