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Govt's Chintan Shivir highlights roadmap to achieve $150 billion electronics exports by 2030
With the global electronics industry increasingly being driven by global value chains, Commerce Secretary Rajesh Agrawal indicated that India's policy framework must provide the predictability and stability required for these value chains to expand their presence in the country.
NFRA begins investigation into Rajesh Exports' financial misstatement
Don't mistake AI's fluency for accuracy, warns NFRA chairman
NFRA chief says Rajesh Exports probe is underway, can't share timeline
The National Financial Reporting Authority (NFRA) is looking into the revenue misstatements case at Rajesh Exports, but it will not be possible to share a timeline on the probe, a top official at the auditors' watchdog said on Tuesday. "Yes, we have started our processes," NFRA chairperson Nitin Gupta said on the sidelines of an event organised by Ficci here. He declined to share any observations, saying the matter is not with him, and also a timeline by which the probe will be completed. It can be noted that last month, capital markets regulator Sebi issued an order in which Rajesh Exports was found to have indulged in misstating revenues over a long period, pegging the overall discrepancies at Rs 15.5 lakh crore. As per subsequent reports, Sebi had written to NFRA seeking examination of the errant entity's auditors. Gupta on Tuesday called for genuine board independence in India's promoter-driven companies, pointing out that as AI influences corporate decision-making, a critical
Inside Rajesh Exports' paper trail—a complex web of auditors and arms
A limited-purpose, non-statutory opinion issued by KPMG Switzerland for Global Gold Refineries AG (GGR), the firm's Swiss arm, was likely used to prepare the group's consolidated financial statements, documents reviewed by Mint showed.
Rajesh Exports says ED search ends with no discrepancies in inventory or cash
On Thursday (June 25), shares of Rajesh Exports Ltd are at ₹97.75, down by ₹5.10, or 4.96%, on the BSE.
Rajesh Exports falls 5%, hits lower circuit for 2nd day after ED action
ED's action came against Rajesh Exports in the backdrop of Sebi's allegation of a massive financial fraud in the company.
Stocks to Watch today: Airtel, Adani Power, Vedanta, Rajesh Exports, IRFC
Stocks to watch today: Bharti Airtel, Adani Power, Vedanta, Rajesh Exports, HCLTech, IRFC, Swiggy, Bandhan Bank, Torrent Power, Hindustan Copper, Tata Steel, and others will be in focus today.
Rajesh Exports failed to produce foreign transaction records: ED
The Enforcement Directorate on Wednesday alleged that gold refining and jewellery manufacturing company Rajesh Exports' key business indicators showed "significant" departures from normal commercial practices, in addition to the non-availability of records related to foreign transactions. The federal agency issued a statement after conducting searches against the Bengaluru-based company and persons linked to it on June 23 for suspected contravention of the Foreign Exchange Management Act (FEMA). The ED identified at least five issues against Rajesh Exports Ltd (REL) and recovered various "incriminating" documents and digital devices during the searches. The company has not yet responded to a PTI query regarding the ED action. The stock exchanges have also sought clarification from the company. Founder and Chairman of the company, Rajesh Mehta, denied any fund diversion or wrongdoing during a recent interview with PTI. He had said that the company will fully cooperate with the fresh
BSE seeks clarification from Rajesh Exports on ED searches
The Bombay Stock Exchange (BSE) on Wednesday sought a clarification from gold jewellery firm Rajesh Exports Ltd over reports of searches conducted by the Enforcement Directorate (ED) at multiple locations linked to the Bengaluru-based company. The exchange's query came a day after the central agency searched nine premises connected to the firm under the provisions of the Foreign Exchange Management Act (FEMA). "The reply is awaited," Rajesh Exports said in a regulatory filing. The development marks a fresh escalation in the legal troubles surrounding the company, which is already facing allegations of a massive financial fraud levelled by the Securities and Exchange Board of India (Sebi). Rajesh Mehta, the company's Founder and Chairman, recently denied any fund diversion or wrongdoing in an interview with PTI. He said the firm would fully cooperate with the fresh forensic audit ordered by Sebi and would not challenge the market regulator's interim order against it.
ED searches Rajesh Exports premises in FEMA probe; flags ₹3,000 crore set-offs
Shares of Rajesh Exports Ltd ended at ₹102.85, down by ₹5.40, or 4.99%, on the BSE.
Stocks to Watch today: IRFC, Yes Bank, Ola, NLC India, Bajaj Auto, Infosys
Stocks to Watch today: IRFC, Yes Bank, Ola Electric, Bajaj Auto, Infosys, Tech Mahindra, City Union Bank, Rajesh Exports, PFC, Honasa Consumer are among other stocks that will be in focus today.
ED searches Rajesh Exports amid Sebi probe into alleged revenue inflation
The Enforcement Directorate has conducted searches at premises linked to Rajesh Exports days after Sebi accused the company of overstating revenues by more than ₹15 lakh crore through its overseas subsidiaries. The company has denied any wrongdoing and said its financial reporting is accurate.