ED carries out searches at locations linked to Rajesh Exports

The Enforcement Directorate conducted searches at nine locations linked to Rajesh Exports in Bengaluru and Mumbai concerning alleged forex violations. This action follows a Sebi order alleging overstated revenues. Evidence of benami transactions and a significant gold inventory discrepancy, with stock reportedly 40% lower than recorded, have been uncovered. The ED is also scrutinizing trade receivables adjustments and overseas investments.

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