There have been SEBI orders and scrutiny involving Rajesh Exports in the past, though not many formal complaints in recent years. Here’s an organized view:
✅ Historical SEBI Actions
Early 2000s – Public Issue Irregularities
- SEBI found that in the late 1990s, Rajesh Exports and its directors (including Rajesh Mehta) were involved in irregular allotments—accepting applications after IPO closure and using proceeds to buy their own shares via an associate firm.
- The company and promoters were barred from the capital market for three years for these violations (casemine.com).
⚠️ Recent Regulatory Oversight
Non-Compliance with SEBI LODR Rules
- Between 2021–2023, Rajesh Exports repeatedly missed filing cash flow statements, delayed audit reports, AGM voting disclosures, and compliance reports.
- NSE and SEBI asked for clarifications and the company was fined for regulatory breaches (thecore.in).
Rating Agency Non-Cooperation
- Brickwork Ratings downgraded Rajesh Exports to a “D – issuer not cooperating” status due to missing disclosures and poor financial transparency (forum.valuepickr.com).
Forensic Audit Coverage Buzz
- Online investor forums and social media mention a purported SEBI-initiated forensic audit of the company, but no formal SEBI forensic audit has been publicly confirmed (x.com).
🔍 Why No Current Formal Complaint?
- SEBI has done enforcement and recovery actions in the past and remains vigilant, but recent issues appear to be taken up as “non-cooperation” rather than fresh complaints.
- Regulators often issue clarification notices and demand compliance, rather than immediately filing complaints—especially when breaches are procedural or related to tardy filings.
✅ Summary: Governance vs. Fraud
| Period / Concern | SEBI Action Taken |
| --------------------------- | -------------------------------- |
| 1995 IPO irregularities | Bar on capital markets (3 years) |
| 2021–23 LODR non-compliance | Fines, notices, clarifications |
| 2023 Brickwork downgrade | Non-cooperation tag |
| 2025 forensic audit rumors | No public SEBI confirmation |
- There is no ongoing SEBI complaint alleging fresh fraud or wrongdoing.
- Past actions dealt with IPO-level violations and governance lapses—not current fraud charges.
✅ Conclusion
- Regulators have acted when required, issuing bars and fines in the past.
- As of mid-2025, there are no active SEBI cases accusing Rajesh Exports or Rajesh Mehta of fraud.
- However, historical actions and recent governance lapses indicate persistent transparency issues that warrant oversight.
If you'd like exact SEBI order dates, fine amounts, or more details on missing disclosures, just let me know!