Rajesh Exports faces ED raids in Bengaluru

Rajesh Exports faces ED raids in Bengaluru

The Enforcement Directorate (ED) has launched a massive raid at multiple locations linked to Rajesh Exports Limited in Bengaluru.

The action comes after the Securities and Exchange Board of India (SEBI) issued an interim order against the company, its chairman and managing director Rajesh Mehta, and other related parties.

The SEBI order had flagged serious irregularities in financial reporting and fund flows by Rajesh Exports.

SEBI's allegations against Rajesh Exports

SEBI has accused Rajesh Exports of creating multiple layers of transactions with related entities to obscure the true nature of fund movement.

The market regulator said these transactions were structured in a way that made it difficult to trace the ultimate source and destination of money, raising concerns over the transparency of the company's financial statements.