SEBI Confirms Ban on Rajesh Exports Chairman
India's market regulator has confirmed a ban on Rajesh Exports chairman Rajesh Mehta from trading in company securities. The action follows findings that the firm misrepresented a vast majority of subsidiary revenue over several fiscal years.
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India's markets regulator issued final orders on Wednesday afternoon against RAJESH EXPORTS LTD, extending founder restraints over 15.15 trillion rupees ($159.22 billion) in misstated revenue. The ruling follows an interim order issued in June by the Securities and Exchange Board of India. The enforcement action targets governance standards at one of the country's largest gold processors.
