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.

— Source publishedThu, 4 Jun, 2026, 15:35 IST·First seen Thu, 4 Jun, 2026, 16:06 IST·Source Business Today · Latest

What happened

SEBI issued an interim order barring jewellery maker Rajesh Exports and founder Rajesh Mehta from securities markets, alleging revenue misrepresentation of Rs

Key facts

  • Rs 15.15 lakh crore
  • 99.80%
  • Rs 11,487 crore
  • Rs 338.90 crore
  • Rs 12,725.53 crore
  • 5%
  • Rs 104.65
  • 44.63%

Why this matters

Rajesh Exports' SEBI bar opens distressed-asset opportunities in Indian gold jewellery exports, but any acquirer must ring-fence legacy liabilities and forensic-audit the Valcambi and Affluence-linked transactions before bidding.