Lokmat Times6-24

BSE asks Rajesh Exports to clarify ED searches at nine premises

India’s Enforcement Directorate (ED) conducted raids at nine locations linked to gold jewellery maker Rajesh Exports in Bengaluru and elsewhere under the Foreign Exchange Management Act (FEMA). The Bombay Stock Exchange sent the company a letter the same day seeking clarification on the reported searches. Rajesh Exports is also facing an urgent forensic audit ordered by SEBI amid allegations of financial misstatements. The company’s founder has denied wrongdoing and said it will cooperate with the investigation.

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