SEBI bars Rajesh Exports MD over alleged ₹15.15 lakh cr revenue misstatement; stock hits lower circuit
SEBI's interim order accuses Rajesh Mehta of misrepresenting ₹15.15 lakh crore in revenue and routing funds via Swiss subsidiary Valcambi across FY21-FY25, with 97-99% of revenue booked through overseas subs. Mehta denies all findings. Shares locked at 5% lower circuit at ₹103.92.
SEBI passed an interim order barring Rajesh Exports MD Rajesh Mehta from securities dealings, alleging ₹15.15 lakh crore revenue misrepresentation and fund-routing through subsidiary Valcambi. Mehta denied findings; shares hit 5% lower circuit at ₹103.92.