Exchange queries jewellery giant after Enforcement Directorate raids multiple premises under FEMA provisions.
Key Highlights
- BSE has sought clarification from Rajesh Exports over ED search operations.
- Enforcement Directorate searched nine premises linked to the company.
- Searches were conducted under provisions of FEMA.
- Rajesh Exports said its response to the exchange is awaited.
- The company is already facing regulatory scrutiny from SEBI.
- Founder Rajesh Mehta has denied allegations of fund diversion.
- Company has agreed to cooperate with SEBI’s forensic audit.
- Investors are closely tracking further developments and disclosures.
News Story:
New Delhi, June 24, 2026: The Bombay Stock Exchange (BSE) has sought clarification from gold jewellery manufacturer Rajesh Exports Limited regarding reports of recent searches conducted by the Enforcement Directorate (ED) at multiple locations linked to the company.
The exchange’s query follows enforcement action carried out by the ED on June 23, when officials searched nine premises associated with the Bengaluru-based firm under the provisions of the Foreign Exchange Management Act (FEMA).
In a regulatory filing, Rajesh Exports informed investors that it had received a query from BSE regarding the media reports and stated that its response to the exchange was awaited.
Fresh Scrutiny Intensifies
The ED searches mark a fresh development in the ongoing regulatory challenges faced by Rajesh Exports. The company has already been under scrutiny following allegations of financial irregularities raised by market regulator Securities and Exchange Board of India (SEBI).
The latest enforcement action has increased investor attention on the company as authorities continue their investigations into various compliance-related matters.
Company Denies Wrongdoing
Earlier, Rajesh Mehta, Founder and Chairman of Rajesh Exports, denied allegations of fund diversion and financial misconduct.
He stated that the company would fully cooperate with the forensic audit ordered by SEBI and would not challenge the regulator’s interim order. Mehta also reiterated the company’s commitment to complying with all regulatory requirements during the investigation process.
Regulatory Developments in Focus
Market participants are closely monitoring the developments, as the outcome of the ED’s FEMA-related investigation and SEBI’s ongoing review could have significant implications for the company.
Investors are now awaiting the company’s official response to BSE’s clarification request and any further disclosures regarding the searches.
