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The Economic Times

Who is Rajesh Mehta, man behind Rajesh Exports, facing SEBI ban over alleged Rs 15.15 lakh crore 'fraud' impacting LIC, others?

Rajesh Mehta SEBI Rajesh Exports LIC REL

Market regulator SEBI on Wednesday issued an interim ex-parte order against Rajesh Exports Ltd (REL) and its Chairman and Managing Director Rajesh Mehta, alleging large-scale financial misstatements, fund diversion through promoter-linked entities, and serious lapses in corporate governance.

In its 109-page order, SEBI Whole Time Member Kamlesh Chandra Varshney said the regulator had prima facie uncovered a multi-year pattern of non-genuine transactions, questionable accounting practices, inadequate disclosures and the routing of company funds through entities linked to the promoter group.

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