Rajesh Exports shares in news today - Two major reasons why
In an interview with PTI, Mehta said SEBI's interim order dated June 3, which alleged revenue inflation of Rs 15.15 lakh crore during FY21-FY25, was based on a fundamental accounting error.
- Jun 8, 2026,
- Updated Jun 8, 2026 9:14 AM IST
Shares of Rajesh Exports Ltd are in focus on Monday after the gold refiner and jewellery exporter reportedly said it had submitted 300-400 GB of documents to market regulator SEBI, but believed the watchdog had been unable to locate the relevant files. The Rajesh Mehta-led company told PTI that it would resubmit all documents sought by the regulator within 15 days to resolve the matter.
In an interview with PTI, Mehta said SEBI's interim order dated June 3, which alleged revenue inflation of Rs 15.15 lakh crore during FY21-FY25, was based on a fundamental accounting error. According to him, the regulator had treated the company's Ebitda figures as revenue.
"We had given them 300-400 GB documents, running into lakhs of pages. I think they have not been able to find the correct documents. The whole confusion has happened there," Mehta said.
In another development, PTI reported that the Ministry of Heavy Industries (MHI) would decide on removing Rajesh Exports from the list of beneficiaries under the production-linked incentive (PLI) scheme for advanced chemistry cell (ACC) battery storage in the coming days. This is after the markets regulator passed an interim order last week, alleging massive financial fraud by the Bengaluru-based firm.
In a 10-pointer press release on Friday, Rajesh Exports had said it is a totally debt free company and is not dependant on any outside finance for any of its operation. It insisted it has never raised any money from any public offerings except for the initial public issue raising Rs 10 crore from the public in the year 1995. Rajesh Exports said it has never made any equity placement to any of the domestic institutions and "never indulged in any mis-reporting and all its filings, financial numbers including revenue is true and genuine."
Rajesh Exports reiterated that the SEBI order is an interim order which has only raised suspicions on certain aspects and there are no conclusive adverse findings on any of the company matters.
"Rajesh Exports or any of its personnel are not involved in any wrong doings or misrepresentations. The major point mis-interpreted with regard to the revenues of the company is totally misplaced. The huge revenues reported in the consolidated financials of the company are primarily from Valcambi, which is engaged in refining and sale of gold bullion to major banks, central banks and other large bullion entities across the world. It is a globally accepted fact that Valcambi is the world’s largest, finest and most reputed gold refinery," it said.
Rajesh Exports further said some of the media reports and social media postings with regard to scam, fraud, inflated revenues, placement of shares to LIC are totally incorrect, out of place and speculative. The company outright rejects all these speculative inferences, Rajesh Exports said.
"Rajesh Exports is engaged in transparent and absolutely straight forward operations, which positively contribute to the country’s and global economy. Rajesh Exports is in the process of mitigating each one of the concerns raised in the SEBI interim order with explanation, documents and solid evidence. The company is confident that SEBI will appreciate the submissions of the company and clear all the suspicions raised in the interim order," it said.
Shares of Rajesh Exports Ltd are in focus on Monday after the gold refiner and jewellery exporter reportedly said it had submitted 300-400 GB of documents to market regulator SEBI, but believed the watchdog had been unable to locate the relevant files. The Rajesh Mehta-led company told PTI that it would resubmit all documents sought by the regulator within 15 days to resolve the matter.
In an interview with PTI, Mehta said SEBI's interim order dated June 3, which alleged revenue inflation of Rs 15.15 lakh crore during FY21-FY25, was based on a fundamental accounting error. According to him, the regulator had treated the company's Ebitda figures as revenue.
"We had given them 300-400 GB documents, running into lakhs of pages. I think they have not been able to find the correct documents. The whole confusion has happened there," Mehta said.
In another development, PTI reported that the Ministry of Heavy Industries (MHI) would decide on removing Rajesh Exports from the list of beneficiaries under the production-linked incentive (PLI) scheme for advanced chemistry cell (ACC) battery storage in the coming days. This is after the markets regulator passed an interim order last week, alleging massive financial fraud by the Bengaluru-based firm.
In a 10-pointer press release on Friday, Rajesh Exports had said it is a totally debt free company and is not dependant on any outside finance for any of its operation. It insisted it has never raised any money from any public offerings except for the initial public issue raising Rs 10 crore from the public in the year 1995. Rajesh Exports said it has never made any equity placement to any of the domestic institutions and "never indulged in any mis-reporting and all its filings, financial numbers including revenue is true and genuine."
Rajesh Exports reiterated that the SEBI order is an interim order which has only raised suspicions on certain aspects and there are no conclusive adverse findings on any of the company matters.
"Rajesh Exports or any of its personnel are not involved in any wrong doings or misrepresentations. The major point mis-interpreted with regard to the revenues of the company is totally misplaced. The huge revenues reported in the consolidated financials of the company are primarily from Valcambi, which is engaged in refining and sale of gold bullion to major banks, central banks and other large bullion entities across the world. It is a globally accepted fact that Valcambi is the world’s largest, finest and most reputed gold refinery," it said.
Rajesh Exports further said some of the media reports and social media postings with regard to scam, fraud, inflated revenues, placement of shares to LIC are totally incorrect, out of place and speculative. The company outright rejects all these speculative inferences, Rajesh Exports said.
"Rajesh Exports is engaged in transparent and absolutely straight forward operations, which positively contribute to the country’s and global economy. Rajesh Exports is in the process of mitigating each one of the concerns raised in the SEBI interim order with explanation, documents and solid evidence. The company is confident that SEBI will appreciate the submissions of the company and clear all the suspicions raised in the interim order," it said.