Interim Order in the matter of Rajesh Exports Limited
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What is this order about?
SEBI issued an interim order against Rajesh Exports Limited (REL) and its promoter Rajesh Mehta for alleged financial misrepresentations and non-cooperation during an investigation into REL's financial disclosures.
Who it concerns
Rajesh Exports Limited, Rajesh Mehta
What was found or directed
- Non-cooperation with SEBI investigation
- Failure to disclose consolidated financial information of subsidiaries
- Misrepresentation of financial statements on consolidated basis
- Misrepresentation of financial statements on standalone basis
- Incorrect consolidation of financial statements
- Misrepresentation regarding 'Investment in Gold Mines in Africa'
- Incorrect adjustment of trade receivables against trade payables
- Misutilization of funds by REL
Points worth noting
- REL has a market capitalization of INR 3,210 crore as of June 03, 2026
- REL's subsidiaries/step-down subsidiaries account for a significant portion of its consolidated revenue (e.g., 99.2% in FY 2020-21)
- REL failed to provide financial statements of any subsidiaries on its website as required by law
- Forensic audit found only 2.03% of sample value was fully documented for verification
| Source body | Securities & Exchange Board of India (SEBI) — enforcement orders |
| Reference number | WTM/KV/CFID/CFID-SEC6/32431/2026-27 |
| Status | closed (section: order) |
| Year | 2026 |
| Closing date | — |
| Documents | 1 |
Highlights & Points worth asking
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Documents
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Order
2026-06-03
ORDER_1780476153.pdf
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