Rajesh Exports shares hit 5% lower circuit as SFIO fraud probe looms amid ED and Sebi scrutiny

Rajesh Exports shares hit the 5% intraday lower circuit after the Serious Fraud Investigation Office (SFIO) said it would launch a formal fraud probe. The move follows Enforcement Directorate (ED) searches under the Foreign Exchange Management Act (FEMA) that flagged suspected revenue manipulation, missing overseas-transaction documents and unusual pay structures, while Sebi issued an interim order on June 3 barring the promoter from trading the company’s securities. The company, India’s largest gold refiner and jeweller, denied the allegations and said it will contest them through legal channels.