SEBI bars Rajesh Exports promoter, alleges ₹15.15 lakh cr revenue misrepresentation via Swiss arm Valcambi
Interim order against promoter Rajesh Mehta cites 97-99% of FY21-FY25 revenues routed through overseas subsidiary Valcambi, with ₹11,487 cr in disputed sales and ₹7.4 cr in personal transfers. Forensic audit ordered; stock hit 5% lower circuit at ₹103.92, down 80% over three years. LIC holds 10.8%.
SEBI's interim order bars Rajesh Exports promoter Rajesh Mehta from securities markets, alleging ₹15.15 lakh crore revenue misrepresentation across FY21-FY25 via overseas subsidiary Valcambi. Forensic audit ordered; LIC holds 10.8%; stock hit lower circuit.