Rajesh Exports chair defends ₹15.15 lakh crore revenue after SEBI alleges undisclosed Valcambi subsidiary
Chairman Rajesh Mehta pushed back on SEBI charges that the jeweller misrepresented ₹15.15 lakh crore ($158.17 bn) in revenue through undisclosed overseas subsidiaries, primarily Swiss refiner Valcambi. Mehta says regulator overlooked consolidated filings; 97-99% of revenue flows from overseas units that refined 3,000 tons of gold over FY21-25.
What happened
Rajesh Exports chairman defends financial disclosures after SEBI alleged the jeweller misrepresented ₹15.15 lakh crore in revenue via undisclosed overseas
Key facts
- 97-99% revenue from overseas subsidiaries
- ₹15.15 lakh crore
- $158.17 billion
- 99.8% of subsidiary revenues
- 3,000 tons gold refined FY21-25
Why this matters
The Valcambi disclosure dispute could chill cross-border M&A optics for Indian acquirers of Swiss refining assets, raising the bar for subsidiary-level transparency in any precious-metals deal structure.