New storm for Rajesh Exports & missing Rs 3,000 cr
Synopsis The Enforcement Directorate has uncovered significant suspected violations of the Foreign Exchange Management Act (FEMA) during searches at Rajesh Exports Ltd (REL) premises. Investigations
Synopsis The Enforcement Directorate has uncovered significant suspected violations of the Foreign Exchange Management Act (FEMA) during searches at Rajesh Exports Ltd (REL) premises. Investigations revealed missing records for overseas transactions, approximately Rs 3,000 crore in unclear trade settlements, a substantial stock discrepancy, and allegations of share manipulation involving offshore entities. The company has also failed to provide documentation for a substantial investment in African mines.
The BriefWire