By Admin 
Rajesh Exports News: Country’s well-known businessman Rajesh Mehta and his gold export company have come under the radar of investigating agencies in recent times. This matter came to light when an investigation into the company’s transactions and business activities began on the basis of a complaint. After which it came to light that the company had committed a scam worth crores. First of all let us know about the owner of Rajesh Exports.
Who is Rajesh Mehta?
The name of the owner of Rajesh Exports is Rajesh Mehta, who is one of the largest gold exporters in India. Rajesh Mehta, resident of Bangalore, is the founder and chairman of Rajesh Exports. In this company of his, gold is refined, jewelery making and exported. Rajesh Export is not a local company of India but a company which has gained global recognition. In the year 2017, Rajesh’s name was at number 61 in the Forbes list of richest people.
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How did the business start?
Rajesh Mehta started his business with just Rs 1200, which he also borrowed from his brother. With this money Rajesh started a small business of silver jewellery. He used to buy jewelery from one city and sell it in another city and gradually expanded his business. In 1989, with only 10 employees, he started a gold jewelery manufacturing unit in the name of Rajesh Exports.
Within a few years, his business reached the international level and he started exporting gold jewelery to markets like Britain, Dubai, America and Europe. After this, Rajesh Exports gradually gained a foothold in everything from jewelery making to gold refining and retail. In the year 2015, the company also took over the world famous gold refinery Valcambi of Switzerland, which further strengthened their business.
One complaint changed the story
At present Rajesh Exports is on the radar only because of one complaint. In fact, in March 2024, a shareholder of Rajesh Exports sent an email to SEBI alleging that a huge amount was being shown as outstanding in the company’s accounts for many years and there could be financial irregularities. This was a common complaint, but after two years this case has become one of the biggest accounting controversies in the country.
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SEBI’s interim investigation report has alleged that Rajesh Exports has misrepresented or hidden the actual position of revenue of about Rs 15.15 lakh crore through its foreign subsidiaries and associated companies between the financial year 2020-21 to 2024-25. However, this is only an allegation by SEBI and the investigation into the matter is ongoing. In such a situation, the final conclusion will come only after the investigation is completed and the arguments of all the parties are heard.