Rajesh Exports rejects SEBI order, defends Rs 15.15 lakh crore revenue in 10-point rebuttal
Shubh Jewellers parent issued a detailed clarification contesting SEBI's interim order alleging revenue misrepresentation across FY21-FY25. Founder Rajesh Mehta has been barred from the securities market. Shares slid 5% to Rs 99.45 as the company expressed confidence SEBI will reverse course on review.
What happened
Jewellery maker Rajesh Exports issued a 10-point clarification rejecting SEBI's interim order alleging revenue misrepresentation of Rs 15.15 lakh crore over
Key facts
- Rs 15.15 lakh crore
- 99.80%
- 97-99%
- Rs 10 crore
- 5% decline
- Rs 99.45
- 46.16%
Why this matters
Any inbound interest in Rajesh Exports' bullion or retail assets just got a discount tag, but deal-making is effectively frozen until the SEBI matter is adjudicated and promoter restrictions are clarified.