Key facts
- Rajesh Mehta disputes SEBI's findings of revenue inflation at Rajesh Exports.
- SEBI alleged Rajesh Exports misrepresented approximately Rs 15.15 lakh crore in revenue.
- The alleged revenue inflation occurred between fiscal years 2020-21 and 2024-25.
- SEBI previously issued an interim order against Rajesh Exports and its promoter.
- Rajesh Exports is India's fourth-largest company.
- Investigations point to accounting irregularities and siphoning of funds at Rajesh Exports.
Rajesh Mehta, the promoter of Rajesh Exports, has disputed the Securities and Exchange Board of India's (SEBI) findings of revenue inflation, stating they are inaccurate. SEBI previously issued an interim order against Rajesh Exports and Mehta, alleging significant financial irregularities. The regulator claims the gold jewellery maker, India's fourth-largest company, misrepresented about Rs 15.15 lakh crore in revenue between fiscal years 2020-21 and 2024-25. Investigations also point to accounting irregularities and potential fund siphoning, with auditors facing scrutiny. Management claims ignorance of overseas operations attributed to Mehta.