A company with a market capitalisation of just over Rs 2,900 crore now finds itself at the centre of what could be one of the biggest alleged misrepresentation cases in the history of the Indian stock market.
Rajesh Exports Ltd (REL), the gold exporter named after its chairman Rajesh Mehta, has been accused by market regulator Sebi of orchestrating an elaborate financial fraud involving alleged inflation of revenues worth Rs 15.15 lakh crore over the years, personal gold trades allegedly passed off as corporate sales, and gold mine investments worth Rs 1,035 crore.
