Rajesh Exports Hits Lower Circuit for Third Day as Sebi Probe Deepens; Company Disputes Allegations

Описание: Shares of Rajesh Exports remained under intense selling pressure on Monday, hitting the 5% lower circuit for the third consecutive trading session amid concerns surrounding an ongoing regulatory investigation by Securities and Exchange Board of India.
The stock was locked at Rs 94.50 after fresh investor concerns emerged over Sebi's allegations that company funds were routed through personal accounts and promoter-linked entities without adequate disclosures. The regulator's interim order also alleged revenue inflation of Rs 15.15 lakh crore between FY21 and FY25.
Responding to the allegations, company founder and chairman Rajesh Mehta strongly disputed Sebi's findings, claiming the regulator may have misinterpreted financial data. According to Mehta, Sebi incorrectly treated EBITDA figures as revenue, leading to significant discrepancies in its calculations.
Rajesh Exports stated that it had already submitted 300–400 GB of documents to the regulator and believes relevant files may not have been properly reviewed. The company has committed to resubmitting all requested documents within 15 days.
Meanwhile, Sebi Chairman Tuhin Kanta Pandey declined to comment on the ongoing quasi-judicial proceedings, emphasizing that the matter will follow the legal process.

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