Rajesh Exports defends books as SEBI flags Rs 15.15 lakh crore revenue misrepresentation
Jeweller blames Valcambi reporting confusion after SEBI's interim order alleging FY21-FY25 misstatements, suspicious Rs 11,400 crore Affluence broker trades, and MD Mehta's personal derivative dealings. Stock fell 5% as 97-99% of consolidated revenue ties to overseas subsidiaries.
What happened
Rajesh Exports defends revenue filings after SEBI's interim order alleging Rs 15.15 lakh crore misrepresentation FY21-FY25, blaming confusion over Valcambi
Key facts
- Rs 15.15 lakh crore alleged revenue misrepresentation FY21-FY25
- 97-99% consolidated revenue from overseas subsidiaries
- Rs 11,487 crore sales with Affluence FY22-FY24
- Rs 11,488 crore purchases with Affluence
- Affluence aggregate revenue Rs 113.22 crore
- Rs 7.54 crore transfers to Mehta
- Rs 3.50 crore net loss on derivatives
- shares down 5%
Why this matters
Shelve any partnership, supply, or refining tie-ups referencing Valcambi-linked flows until disclosure integrity is independently validated, as counterparty contagion from a SEBI fraud finding would taint adjacent deals.
Also reported by
- Indian Express · Business — 2h after first sighting