Rajesh Exports Denies Financial Misconduct in SEBI Probe

Rajesh Exports Limited refutes allegations of inflating revenues following an interim order by SEBI, which suggests significant financial misrepresentations. The company claims accurate reporting, attributing discrepancies to misunderstandings. SEBI has barred the promoter and restricted market access while an investigation is underway.

Rajesh Exports Limited has firmly denied any involvement in financial misconduct after the Securities and Exchange Board of India (SEBI) issued an interim ex-parte order implicating the company's financial reporting. The order, dated June 3, 2026, accuses Rajesh Exports of conducting one of India's largest financial misrepresentations.

According to SEBI, the Bengaluru-based company allegedly inflated revenues by Rs 15.15 lakh crore over five years. However, Rajesh Exports asserts that the figures reported in the order are misconceived, stemming from a misunderstanding related to revenue treatment, particularly involving Valcambi's revenue.

Despite the serious allegations, the company maintains its integrity, emphasizing there were no penalties or fines imposed by SEBI in the interim directive. SEBI has restricted market access for the company, including barring promoter Rajesh Mehta from securities trading and ordering a forensic audit. Rajesh Exports remains committed to addressing these concerns with regulators.