SEBI flags ₹15.15 lakh crore subsidiary revenue misstatement at Rajesh Exports; stock hits 5% lower circuit
SEBI's interim order alleges Rajesh Exports misrepresented 99.8% of Swiss arm Valcambi's revenue across FY21-FY25. Promoter Rajesh Mehta barred from trading. Shares locked at 5% lower circuit at ₹103.92, deepening a credibility crisis for India's largest gold exporter.
SEBI's interim order alleges Rajesh Exports misrepresented ₹15.15 lakh crore (99.8%) of subsidiary revenue across FY21-FY25, citing discrepancies in Swiss arm Valcambi's accounts. Stock hit 5% lower circuit; promoter Rajesh Mehta barred from trading.