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Rajesh Exports slumps after SEBI bars promoter from accessing securities market
Rajesh Exports was locked in 5% lower circuit after the Securities and Exchange Board of India (SEBI) barred its promoter Rajesh Mehta from accessing the securities market over allegations of financial misappropriation.
Rajesh Export Scam: Rajesh Exports Share Price Hits 5% lower circuit; Here's Why - Dalal Street Investment Journal
Rajesh Export Scam: Rajesh Exports Share Price Hits 5% lower circuit; Here's WhyDalal Street Investment Journal
LIC-Held, Canara Bank-Backed Rajesh Exports Faces Insolvency Petition Amid SEBI Revenue Fraud Probe — Five Things To Know
Perhaps the most striking figure from SEBI's entire findings was that Rajesh Exports misrepresented Rs 15.15 lakh crore, representing 99.8% of its revenues from subsidiaries between FY21 to FY25.
Stock Market News Today Live Updates: Nifty Falls Below 23,250, Sensex Slides Over 500 Points; Rajesh Exports Hits Lower Circuit After SEBI Probe
Nifty IT fell 0.6%, while Nifty Realty declined 0.47%. Nifty Financial Services and Nifty Bank slipped 0.4% and 0.38%, respectively.
Rajesh Exports shares hit 5% lower circuit after Sebi says 97-99% revenue inflation. Check key details
Sebi has issued an interim order against Rajesh Exports and promoter Rajesh Mehta, alleging extensive financial irregularities and possible revenue overstatement. The regulator found prima facie evidence that 97-99% of the company's reported revenue may have been inflated, barring Mehta from dealing in securities pending further investigation.
SEBI Bars Rajesh Exports, Promoter Over Alleged Rs 15.15 Lakh Crore Revenue Fraud
SEBI said key financial information relating to foreign entities was not adequately disclosed to shareholders.
Rajesh Exports share price falls 5% after SEBI flags ₹15 lakh crore misstatement in accounts
The SEBI has accused Rajesh Exports of misrepresenting nearly all of its revenue over a five-year period, raising doubts on the reliability of the jewellery manufacturer's financial disclosures.
Stocks in news: Rajesh Exports, Lenskart, Suzlon Energy, Aurobindo Pharma, Tata Motors
Indian markets saw volatility and closed lower on Wednesday. Key companies are in focus due to significant developments. SoftBank reduced its stake in Lenskart. Sebi issued an interim order against Rajesh Exports. Tata Motors revised its Avinya EV strategy. Suzlon Energy is diversifying into battery storage. RIL's subsidiary signed MoUs with the Haryana Government.
Sebi bars Chairman Mehta from trading in Rajesh Exports shares
Securities and Exchange Board of India has barred Rajesh Mehta, chairman of Rajesh Exports, from trading company shares. A forensic probe uncovered alleged revenue inflation and fund diversion over four years. The regulator found the company presented a misleading financial picture. Sebi has ordered a fresh audit and referred auditors' conduct for action.
Stocks to Watch Today: BHEL, Agarwal Industrial, JBM Auto, Rajesh Exports, Indian Energy Exchange,... - Moneycontrol.com
Stocks to Watch Today: BHEL, Agarwal Industrial, JBM Auto, Rajesh Exports, Indian Energy Exchange,...Moneycontrol.com
Rajesh Exports: Sebi finds 97-99% revenue inflation, bars promoter from trading
Rajesh Exports and promoter Rajesh Mehta face regulatory action after Sebi alleged large-scale financial misrepresentation and possible revenue inflation of 97-99%. The regulator has barred Mehta from trading in company securities and ordered a fresh forensic audit.
Canara Bank invites bids for Rs 509 crore loan of Rajesh Exports
Canara Bank is selling a ₹509.37 crore loan given to Rajesh Exports. The bank is looking for buyers for this distressed debt. This move comes as the bank awaits a decision on its bankruptcy plea against the jewellery firm. Rajesh Exports is a major gold jewellery producer. The bank aims to recover its dues through this sale.