Rajesh Exports addresses SEBI interim order concerns
RAJESHEXPO · price
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Rajesh Exports issued clarifications about a SEBI interim order. Company states it is debt-free, raised funds only through a 1995 IPO of Rs. 10 crore, and never made equity placements to domestic institutions. It denies allegations of mis-reporting, inflated revenues, fraud or scam. Large consolidated revenues are attributed to Valcambi, a global gold refinery. Company says the SEBI order is interim with no conclusive adverse findings and it is preparing detailed submissions and evidence to clear the raised suspicions.
Stock may remain volatile until SEBI issues final order. Company's planned evidence submissions could help stabilize sentiment if accepted by SEBI.