Rajesh Exports Scam: Allegations, ED Probe & Amount Involved
Rajesh Exports Ltd — India’s largest gold jewellery manufacturer and exporter — has been under scrutiny by the Enforcement Directorate (ED) over alleged FEMA violations and money laundering. Here is a factual summary of what is publicly known.
Disclaimer: This article summarizes publicly reported allegations and regulatory actions. Rajesh Exports Ltd has denied wrongdoing. All persons are presumed innocent until proven guilty by a court of law.
Company Background
| Detail | Info |
|---|---|
| Company | Rajesh Exports Ltd (BSE: 531500) |
| Headquarters | Bengaluru, Karnataka, India |
| Founder | Rajesh Mehta |
| Business | Gold jewellery manufacturing & export; retail (Shubh Jewellers) |
| Listed On | BSE & NSE |
Also Read : How to Activate UAN Number
Key Allegations & Amounts
| Allegation | Reported Amount / Detail |
|---|---|
| ED FEMA violation probe | Alleged foreign exchange transactions worth thousands of crores |
| Bank fraud allegations (CBI) | Reported figures range from Rs. 879 crore to Rs. 2,500+ crore |
| Shubh Jewellers NPAs | Loan defaults cited by multiple lenders |
| Investigative authority | Enforcement Directorate (ED), CBI |
Timeline of Events
- 2022–2023: Initial media reports of ED investigation into alleged FEMA violations.
- 2023: Reports of CBI FIR related to alleged bank loan fraud.
- 2024: ED searches conducted at offices and residences linked to the group.
- 2025–2026: Court proceedings ongoing; company maintains denial of all charges.
Company’s Response
Rajesh Exports Ltd has consistently denied all allegations of fraud or money laundering in stock exchange filings, stating that it is cooperating with all regulatory authorities and that investigations are based on misunderstandings of legitimate business transactions.
For investors: Check the latest BSE/NSE filings at BSE India for official disclosures.
