Sebi bans Rajesh Exports’ CMD for fin irregularities

Sebi has banned Rajesh Mehta, CMD of Rajesh Exports, from dealing in the company’s shares pending further orders. The regulator’s investigation revealed significant manipulation of accounts, particularly overseas subsidiary revenues, inflating them by an “egregious” 97%-99%. The company also failed to reflect a Rs 1,035 crore investment in African gold mines.