Mumbai, June 24 (IANS) The Bombay Stock Exchange (BSE) on Wednesday sought clarification from gold jewellery manufacturer Rajesh Exports Ltd regarding reports of searches conducted by the Enforcement Directorate (ED) at multiple locations linked to the Bengaluru-based company.The stock exchange’s query came a day after the central agency carried out searches at nine premises associated with the company under the provisions of the Foreign Exchange Management Act (FEMA). In a regulatory filing, Ra…
Latest Rajesh Mehta News & Updates
Bengaluru, June 23 (IANS) The Enforcement Directorate (ED) on Tuesday carried out searches at multiple locations linked to Rajesh Exports Limited in Bengaluru, with raids also conducted in Mumbai. The action comes amid increasing regulatory scrutiny of the company following a recent Securities and Exchange Board of India (SEBI) order that raised concerns about Rajesh Exports’ financial reporting practices.SEBI, citing findings from a forensic review, alleged that the company may have significa…
Mumbai, June 8 (IANS) Securities and Exchange Board of India (SEBI) Chairman Tuhin Kanta Pandey on Monday declined to comment on the regulator’s action against Rajesh Exports, saying the matter forms part of a quasi-judicial process and should be addressed through legal procedures.“As a matter of principle, we do not comment on individual cases in the media. This is, in fact, a quasi-judicial process in which orders are issued, and they must be complied with or challenged through the procedu…
New Delhi, June 5 (IANS) Shares of Rajesh Exports tumbled 5 per cent for the second straight session on Friday, hitting lower circuit limits after capital markets regulator Securities and Exchange Board of India (SEBI) barred the company’s promoter and CEO, Rajesh Mehta from dealing in the company’s securities over alleged financial irregularities.The stock declined as much as 4.99 per cent to hit the lower circuit limit at Rs 98.73 on the NSE, while on the BSE it declined 4.97 per cent to R…
New Delhi, June 4 (IANS) Rajesh Exports Chairman and Managing Director Rajesh Mehta has rejected the findings of the Securities and Exchange Board of India (SEBI)’s interim order against the company, saying the conclusions were inaccurate and that a detailed response would be issued shortly, according to a report.Speaking to NDTV Profit, Mehta described SEBI’s observations as preliminary and disputed the regulator’s findings.“It is an interim order, findings are not accurate,” Mehta said…
Mumbai, June 4 (IANS) Shares of Rajesh Exports plunged 5 per cent and hit the lower circuit on Thursday after the Securities and Exchange Board of India (SEBI) issued an interim order against the company and its promoter Rajesh Mehta, alleging extensive financial irregularities, lack of cooperation during the investigation and possible overstatement of revenues.The stock touched a lower circuit at Rs 104.65 — a decline of 4.99 per cent from the previous close — on the BSE after SEBI flagged pr…
Mumbai, June 3 (IANS) Market regulator SEBI on Wednesday passed an interim ex-parte order against Rajesh Exports Limited (REL) and its Chairman and Managing Director Rajesh Mehta, alleging large-scale financial misrepresentation, fund-routing irregularities and failures in corporate governance during an ongoing investigation.In its 109-page interim order, SEBI Whole Time Member Kamlesh Chandra Varshney said the regulator had prima facie found evidence of a multi-year pattern involving non-genuin…