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Rajesh Exports Ltd, which the Securities and Exchange Board of India (SEBI) charged with misreporting fiscal accusation and misleading investors, denied the charges successful an speech filing released Thursday (June 4, 2026.)
“The Company emphatically states that it has done nary incorrect and each the reporting of the Company with respect to it’s financials has been correct,” it said adding that the interim bid of SEBI released 3 June, was not based connected “conclusive adverse findings.”
SEBI said that the “company’s overwhelming bulk (approx. 97%-99%) of consolidated revenues were attributed to overseas subsidiaries and step-down subsidiaries,” and that specified accusation was not “independently verifiable.” REL allegedly was accordant with the gross ostentation and liability deflation successful the past 5 years with the consolidated gross successful fiscal 2024-25 coming retired to beryllium ₹4.11 lakh crore and the full of ₹15.15 lakh crore cumulative of the 5 years, according to SEBI’s interim order.
The Whole Time Member Kamlesh Chandra Varshney, who passed the interim order, directed REL to co-operate with the investigating authorization and a recently appointed forensic auditor. Further helium banned REL’s promoter Rajesh Mehta from trading successful its stocks, based connected superior evidence.
Responding to this, REL said:“The halfway reflection successful the bid is with respect to the mis-reporting of the revenues, this has emerged chiefly owed to disorder due to the fact that SEBI has considered the EBIDTA of Valcambi (the subsidiary) alternatively of Revenue hence it has stated that the determination is quality of astir 97% successful the revenue. The consolidated Revenue arsenic stated by the Company is Correct,” successful its speech filing.
The golden and diamond jewellery exporters’ banal crashed up to 5% successful the trading league aft the merchandise of the order.
