Rajesh Mehta, promoter of Rajesh Exports, disputes SEBI's findings of revenue inflation, stating the regulator's allegations are inaccurate. SEBI previously alleged the company misrepresented approximately Rs 15.15 lakh crore in revenue between fiscal years 2020-21 and 2024-25.
These allegations of significant revenue inflation and financial irregularities by India's fourth-largest company raise serious concerns about corporate governance and investor protection in the Indian market.
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.
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