Rajesh Export LTD Shares: Last Thursday, i.e. June 4, Rajesh Export came into limelight when the company was accused of fraud and embezzlement. The company has been under investigation since then. Meanwhile, shares of Rajesh Exports Limited Company have fallen for the third consecutive day on Monday. So in some reports it has also been said that the company may soon be removed from the PLI scheme.

Huge decline in company’s shares
In fact, heavy selling was seen in the shares of Rajesh Exports Limited on Monday. The company’s shares reached the lower circuit of 5% for the third consecutive trading day. The share fell by Rs 4.95 and closed at Rs 94.50.

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Company may be out of PLI scheme
Meanwhile, some sources have informed that the Ministry of Heavy Industries is also considering removing Rajesh Exports from the list of beneficiaries of the PLI scheme given for Advanced Chemistry Cell (ACC) battery storage. Ultimately the decision will be taken after the approval of Union Minister AD Kumaraswamy.

SEBI has made these allegations
The Securities and Exchange Board of India (SEBI), in an interim order issued on June 3, alleged that some of the company’s funds were sent through personal accounts and entities linked to the promoters, the correct information about which was not given to the investors. SEBI also claims that the company may have inflated its revenue by about Rs 15.15 lakh crore between the financial year 2020-21 to 2024-25.

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The company said the allegations were wrong
At the same time, the statement of the company’s founder and chairman Rajesh Mehta has also come out on this entire matter. He told that SEBI’s allegations are completely wrong. He says that the company has already collected 300 to 400 GB of data and lakhs of pages of documents. It is possible that SEBI may not have received the necessary documents. The company will resubmit all the documents in the coming 15 days.