The Securities and Exchange Board of Inda (SEBI) has ordered an investigation into Rajesh Exports and its Executive Chairman Rajesh Mehta for allegedly misrepresenting financial statements aggregating Rs 15 lakh crore. This represents 99.8% of the company’s total consolidated revenue during FY21-FY25. The regulator also restrained Mehta from trading the company’s securities in any form until further orders. A series of violations were found, as per Sebi’s interim order, including non-disclosure of material consolidated financial information, non-availability of financial statements of subsidiaries and step-down subsidiaries, non-availability of information at consolidated levels, misrepresentation of financial statements in annual reports, false claim of investment in gold mine in Africa, and non-cooperation by the company and its chairman, as per Sebi’s interim order. Regulator says company hampered SEBI’s probe The regulator alleged that the company hampered its probe by not providing the required financial information and “furnishing varying and inconsistent submission” at different stages of investigation.