Rajesh Exports Limited on Friday confirmed before the exchange that the company is in the process of mitigating each concern flagged by the market regulator in its interim order, adding that it has submitted detailed explanations backed by documents and “solid evidence” and is confident the issues will be resolved.
“Rajesh Exports is in the process of mitigating each one of the concerns raised in the SEBI interim order with explanation, documents, and solid evidence. The company is confident that SEBI will appreciate the submissions of the company and clear all the suspicions raised in the interim order,” Rajesh Exports said in its exchange filing.
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Seeking to counter what it termed as “incorrect perceptions”, the company reiterated that it is debt-free and does not depend on external financing for operations. It also said it has not raised funds through public offerings since its initial public issue in 1995, nor undertaken equity placements with domestic institutions.
The company also rejected media and social media reports alleging scams, fraud, inflated revenues, or share placements to institutions as “incorrect, speculative, and out of place”.
