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ED finds accounting irregularities at Rajesh Exports as MD paid just Rs 17000 monthly salary
CNBC··25 Jun
CNBC reported the Bengaluru gold company reported USD 81 billion consolidated revenue last year while CFO received no salary since 2020. Raids found 30 billion rupees in discrepancies and 40 percent under-reported gold inventory.
Prism
What It Means For You
- Investors should review exposure to Rajesh Exports shares.
- Gold sector governance is under regulatory scrutiny.
- SEBI and ED probes may trigger further market action.
What's Happening
- ED uncovered accounting irregularities at Rajesh Exports.
- The managing director was paid about Rs 17000 per month.
- Shares fell to the daily trading lower limit.
Probe Details
- SEBI flagged massive revenue inflation earlier.
- The company owns Swiss refiner Valcambi.
- Rajesh Exports denies any financial misreporting.
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