Rajesh Exports Files 10-Point Reply To SEBI, Denies Rs 15.15 Lakh Crore Revenue Misrepresentation
Gold jewellery maker Rajesh Exports rejected SEBI allegations of revenue inflation and fraud, attributing the disputed Rs 15.15 lakh crore figure to its Swiss subsidiary Valcambi. The company also denied claims related to LIC share placement in its formal clarification.
What happened
Gold jewellery maker Rajesh Exports issued a 10-point clarification to SEBI, rejecting allegations of revenue misrepresentation. It attributed the Rs 15.15 lakh
Key facts
- Rs 15.15 lakh crore
- Rs 10 crore
Why this matters
Gold jewellery M&A conversations involving Rajesh Exports or Valcambi assets should be paused pending regulatory resolution, as title, valuation, and reps-and-warranties exposure are all unsettled.