India's markets regulator passes final orders in Rajesh Exports case
India's markets regulator passes final orders in Rajesh Exports case MUMBAI, Oct 14 (Reuters) - India's markets regulator on Wednesday passed final orders in a case related to Rajesh Exports REXP.NS, following an interim order that was passed in June.
Here are the details:
The Securities and Exchange Board of India said that Rajesh Mehta, founder and chairman of Rajesh Exports, will continue to be restrained from buying, selling or dealing in the securities of the company until further orders.
The regulator asked Rajesh Exports to continue to make true, fair, accurate and complete disclosures of its financial statements.
It asked investigating agencies and a forensic auditor appointed after the interim order to complete their work expeditiously.
In June, the regulator said that Rajesh Exports misrepresented approximately 15.15 trillion rupees ($159.22 billion), which represented 99.80% of its revenue from subsidiaries from fiscal 2020-21 to 2024-25.
($1 = 95.1500 Indian rupees)
(Reporting by Ira Dugal; Editing by Sonia Cheema)
((Ira.Dugal@thomsonreuters.com; +91-9833024892;))
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