India's market regulator, the Securities and Exchange Board of India (SEBI), has accused Rajesh Exports of misrepresenting approximately $158 billion in revenue over five years, according to BeInCrypto. SEBI claims this figure represents 99.8% of the revenue attributed to the company's subsidiaries, primarily Swiss refiner Valcambi. The interim order, issued on June 3, bars promoter and chairman Rajesh Mehta from the securities market and mandates a fresh forensic audit. SEBI's investigation began after a shareholder complaint in March 2024 and revealed discrepancies in ownership records and transaction evidence. Rajesh Exports denies wrongdoing, attributing the issue to a communication gap. The company's stock fell sharply following the announcement.