ED raids Rajesh Exports: MD on ₹17,000/month salary atop ₹7.7 lakh crore revenue empire
Enforcement Directorate searched nine premises of the Bengaluru gold-jewellery major after SEBI flagged ₹15.15 lakh crore in alleged revenue inflation via overseas subsidiaries. SFIO probe and fresh forensic audit ordered; shareholders have lost ₹12,726 crore as LIC holds 10.8%.
ED raided gold-jewellery firm Rajesh Exports across nine premises, finding MD paid just ₹17,000/month against ₹7.7 lakh crore revenue. SEBI alleges ₹15.15 lakh crore revenue inflation via overseas subsidiaries; SFIO probe and fresh forensic audit ordered.
Why this matters
Third major ED-linked signal in days after Rajesh Exports hit lower circuits on FEMA breach allegations and a 40% gold inventory gap, deepening the accounting crisis.
Retail-company signals steady at 3,783 in last 90 days.