SEBI bars Rajesh Exports, Chairman over Rs 15.15 lakh crore alleged revenue misrepresentation
SEBI's interim order restrains Rajesh Exports and Chairman Rajesh Mehta from securities markets, citing alleged revenue misrepresentation through Swiss subsidiary Valcambi across FY21-FY25. Mehta denies wrongdoing and distances the firm from LIC's 10.8% stake. Stock fell 5% to Rs 89.80, down 52.3% in six months.
SEBI's interim order bars jewellery maker Rajesh Exports and Chairman Rajesh Mehta from securities markets, alleging Rs 15.15 lakh crore revenue misrepresentation via Swiss subsidiary Valcambi over FY21-FY25. Mehta denies wrongdoing, distances company from LIC's 10.8% stake.