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LIC का पैसा भी क्या डुबा देगा ये Rajesh Exports? 15 Lakh Crore Scam का सच क्या? SEBI

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News and Commentary

SEBI Interim Order Against Rajesh Exports

SEBI has issued a 109-page interim order against Rajesh Exports and its promoter Rajesh Mehta, alleging major financial irregularities linked to reported revenue of about ₹15 lakh crore (with ₹15.15 lakh crore also mentioned).

SEBI claims the company’s consolidated revenue—which is largely said to come from foreign subsidiaries—cannot be reliably verified using available foreign records. The regulator points to documentary gaps across multiple years, cited as FY 2021–22 to FY 2024–25.

Market Restriction and Immediate Market Reaction

SEBI has also barred Rajesh Mehta from the securities market until further notice. The coverage notes this reportedly shook investor confidence, with Rajesh Exports shares hitting the lower circuit (~5%) and seeing heavy selling interest.

How SEBI’s Probe Began

The investigation is described as starting after a shareholder complaint (March 2024) alleging unusually high trade receivables—customer money shown as outstanding for over two years—raising doubts about the genuineness of sales.

SEBI later:

  • Ordered a formal investigation (October 2024)
  • Appointed BDO India for a forensic audit

Alleged Non-Cooperation and Disputed Document Sharing

As the investigation progressed, SEBI alleged Rajesh Exports did not provide key documents, including:

  • Complete customer/supplier records
  • Foreign-unit financial documentation

Rajesh Exports attributed this to Swiss data protection laws. SEBI counters that such laws protect personal information, and do not prevent sharing corporate financial records.

Key Allegations Highlighted

The commentary lists additional concerns raised by SEBI, including:

  • Unverified Africa investment claims Rajesh Exports is alleged to have claimed about ₹135 crore in gold mining investments in Africa, but SEBI says valuation and supporting evidence—such as valuation reports, asset breakdowns, and confirmation of existence/value—was not adequately provided.

  • Disputed transactions via another entity SEBI references transactions involving Affluence Shares and Stocks Pvt. Ltd., where Rajesh Exports’ records reportedly show large sales/purchases. However, the other party allegedly denied the transactions, suggesting entries may have been used to inflate business scale.

  • Funds allegedly reaching the promoter SEBI alleges some company funds reached Rajesh Mehta’s personal accounts, including via derivatives trading, without proper approvals/disclosures (the company denies this).

Investor Impact and Stock Performance

The coverage emphasizes the investor fallout:

  • Share price decline since June 2023 SEBI notes Rajesh Exports shares have been falling since June 2023—from a reported peak of ₹128 (Feb 2023) to around ₹80—which the video says wiped out an estimated ~₹1,725 crore of public investor wealth.

  • LIC’s stake in focus The video highlights that LIC reportedly held about ~10.8% in Rajesh Exports as of March 2026, framing the issue as a potential valuation loss concern for LIC. It urges investors to avoid the stock temporarily.

  • Expectation of continued pressure Analysts quoted/mentioned suggest the share price may remain depressed until the allegations are resolved.

What the Interim Order Means (and Possible Outcomes)

The video stresses that the order is interim, meaning Rajesh Exports and Rajesh Mehta can respond during the ongoing process.

However, it notes that if SEBI’s allegations are ultimately proven, potential consequences could include:

  • Fines
  • Recovery of alleged profits
  • Continued market restrictions
  • Other legal actions

Presenters / Contributors

  • Saurabh Tripathi (host/presenter)
  • Khushboo (credited as writer)
  • Anoop (behind the camera)

Original video