Rajesh Exports Denies SEBI Revenue Inflation Claims
Chairman Rajesh Mehta stated that the company's financial disclosures are correct after the market regulator alleged revenue inflation through overseas entities. Mehta clarified that the regulator's observations resulted from calculation differences and an omission of consolidated revenue figures.
Rajesh Exports Chairman Rajesh Mehta defended the company's financial disclosures Thursday morning following allegations by the India market regulator of revenue inflation via unverified overseas entities. The Securities and Exchange Board of India (SEBI) claims the jeweller misrepresented its scale, a day after the regulator's report was released. The dispute centers on revenue calculation methods that could impact the gold exporter's reported financial standing.
