SEBI has issued an interim order against Rajesh Exports and its Chairman and Managing Director, Rajesh Mehta, alleging large-scale financial misrepresentation and governance lapses. According to the regulator, the company misrepresented approximately Rs. 15.15 lakh crore of consolidated revenue during FY 2021–FY 2025, accounting for nearly 99.8% of its reported consolidated revenue over the period. SEBI has also raised concerns regarding non-genuine transactions, improper accounting practices, fund routing through promoter-linked entities, and inadequate disclosures to investors. The regulator has directed the company to cooperate with the investigation, ordered a fresh forensic audit, and restrained the promoter from dealing in the company’s securities pending further proceedings. Rajesh Exports has denied the allegations and stated that it will submit its response to the regulator.

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