SEBI issued a confirmatory order continuing interim directions against Rajesh Exports Ltd and its promoter Rajesh Mehta for alleged financial misrepresentation and violations.
The order cites non-cooperation with investigation, non-disclosure of subsidiary financials, and misrepresentation of consolidated and standalone financial statements.
Key findings include incorrect revenue reporting, undisclosed related-party transactions, and routing of company funds through promoter's personal accounts.
Directions include continued restraint on Rajesh Mehta from dealing in REL securities and a mandate for REL to provide true financial disclosures.