SEBI bars Rajesh Exports, founder Rajesh Mehta over alleged Rs 15.15 lakh crore revenue misstatement
Interim order alleges jewellery maker inflated revenues via overseas subsidiaries including Valcambi SA, and diverted Rs 338.90 crore for personal derivatives trades through Affluence Shares and Stocks. Stock has collapsed 44.63% with shares at Rs 104.65.
SEBI issued an interim order barring jewellery maker Rajesh Exports and founder Rajesh Mehta from securities markets, alleging revenue misrepresentation of Rs 15.15 lakh crore via overseas subsidiaries and diversion of Rs 338.90 crore for personal derivatives trades.