SEBI alleges Rajesh Exports inflated revenue by Rs 15.15 lakh crore; LIC stake quintupled as MFs stayed away

SEBI's interim order accuses gold-jewellery exporter Rajesh Exports of inflating revenues by Rs 15.15 lakh crore over FY21-25 and bars promoter Mehta from securities dealings pending forensic audit. Mutual funds held just 0.5% since March 2016, but LIC's stake rose from 1.99% to 11.22%, with FPIs at 14.2%.

— Filed Thu, 4 Jun, 2026, 21:34 IST · Source Indian Express · Business · Updated

SEBI's interim order alleges Rajesh Exports inflated revenues by Rs 15.15 lakh crore over FY21-25; mutual funds avoided the gold-jewellery exporter for a decade while LIC's stake quintupled to 11%. Promoter Mehta barred from securities dealings; forensic audit ordered.

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