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Rajesh Exports Repays ₹510 Crore Dues to Canara Bank After DRT Order

Rajesh Exports logoRajesh Exports
Sig3.65Sen-4.60Env0.00Soc0.00Gov-3.40
Canara Bank logoCanara Bank
Sig4.25Sen+5.00Env0.00Soc0.00Gov+1.80

Canara Bank recovered ₹510 crore from Rajesh Exports after a debt recovery tribunal order. The bank pursued recovery after other attempts were blocked, amid allegations that the company faced from SEBI over financial misrepresentation. The account became non-performing in 2020, was admitted to the DRT in 2021, and while insolvency proceedings and SARFAESI were initiated, Karnataka High Court stayed most recovery actions except the DRT case.

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