ED Searches Rajesh Exports Over Alleged Rs30 Bn Overseas Transactions
ED carried out FEMA searches and seizures at nine premises of Rajesh Exports in Bengaluru and Mumbai. Investigators cited missing documentation for foreign imports, exports, overseas investments and receivables/payables, opaque netting of about Rs. 3,000 crore with UAE-linked parties, a 40% stock mismatch, and share manipulation via offshore benamidars that reportedly siphoned over Rs. 600 crore.