SEBI bars Rajesh Exports promoter, flags Rs 15.15 lakh crore in inflated revenues across FY21-FY25
Interim order alleges 97-99% of Rajesh Exports' reported revenues were fabricated via subsidiaries including Valcambi and REL Singapore, with funds routed through promoter Rajesh Mehta's personal accounts. Forensic audit was obstructed. The Bengaluru-based gold refiner-jeweller now faces a securities market ban on its promoter.
SEBI's interim order bars Rajesh Exports promoter Rajesh Mehta from securities dealings, alleging the gold refiner-jeweller inflated 97-99% of revenues (Rs 15.15 lakh crore) via subsidiaries from FY21-FY25, routed funds through personal accounts, and obstructed forensic audit.