SEBI bars Rajesh Exports, promoter Mehta over alleged Rs 15.15 lakh crore revenue misrepresentation
Regulator alleges jewellery maker misstated nearly all FY21-FY25 revenue via Valcambi SA and Affluence, plus Rs 338.9 cr fund diversion. Stock fell 5% to Rs 104.65, down 44.63% in six months. LIC holds 10.8%, FIIs 14.3%, promoters 54.55%; Rs 12,725.53 cr wealth erosion flagged.
SEBI barred jewellery maker Rajesh Exports and promoter Rajesh Mehta from securities markets, alleging misrepresentation of nearly all revenue over FY21-FY25 via Valcambi SA and Affluence, plus Rs 338.9 crore fund diversion. Shares fell 5%.