TNI Bureau: Gold refiner and jewellery exporter Rajesh Exports has rejected Sebi’s allegation of inflating revenue by ₹15.15 lakh crore and said it will resubmit all required documents within 15 days to clear the confusion. The company claimed the market regulator may have mistakenly treated EBITDA (gross profit) figures as revenue while reviewing its financial records.

Chairman Rajesh Mehta said Rajesh Exports had already submitted 300–400 GB of documents to Sebi and believes the regulator may not have identified the relevant records. He maintained that the alleged discrepancy stemmed from an accounting misunderstanding rather than any wrongdoing by the company.

Mehta also denied allegations of fund diversion through promoter-linked entities or personal accounts, asserting that no company funds had been misused. He said the company is ready for a fresh forensic audit and remains confident that Sebi will reconsider its findings after reviewing the clarifications and supporting documents.

The comments come after Sebi’s interim order on June 3, which alleged revenue inflation and barred Mehta from dealing in the company’s securities pending further proceedings. Despite the sharp fall in the company’s share price following the order, Mehta expressed confidence that the issue would be resolved and that investor confidence would return.