Sebi confirms interim curbs on Rajesh Exports, promoter over alleged fund routing

MUMBAI: Sebi has confirmed interim restrictions on Rajesh Exports and its promoter Rajesh Mehta over alleged financial misrepresentation in consolidated revenue and the routing of company funds through personal bank accounts.

The regulator said the company and Mehta had failed to adequately rebut its preliminary findings despite being given an opportunity to respond. Mehta will continue to be barred from dealing in Rajesh Exports shares.

Read more: Jio IPO sparks investor buzz: GMP rises to 20% as Reliance’s telecom arm announces price band, dates


Sebi questioned Rajesh Exports' consolidated revenue of ₹15.4 lakh crore for FY21-25, which was significantly higher than the ₹3,027.3 crore in standalone revenue reported by its Swiss subsidiary Valcambi SA over the same five-year period.

Read more: Jio IPO: 5 strengths that put the Reliance-backed digital giant in spotlight