By Shishir Prashant 
PrashantNews
After facing the alleged SEBI scrutiny on its financial results, Rajesh Exports on Thursday said the company is in the process of clarifying all aspects to the regulator by submitting all the required and relevant documents.
“The order is interim and there has been no any adverse conclusion on any aspect arrived by SEBI,” Rajesh Exports said in its regulatory filing on the BSE. The revenues declared by the company are correct and there is no over stating of revenues, the company said.
“There seems to be some type of communication gap and confusion between SEBI and the company. The company is confident that SEBI in its wisdom will clarify the situation and arrive at the correct conclusion based on the authenticated documents which are in the process of submission by the company,” it said.
The company said “it rejects all adverse media reports appearing with regard to the interim order of SEBI. The company will be shortly issuing a media clarification which would clarify and settle the unnecessary speculation in the media”.
Meanwhile, the Congress has raised questions over Life Insurance Corporation’s (LIC) 10.8 per cent stake in Rajesh Exports. The party sought answers on whether LIC’s investment in the firm was influenced by the “ruling ecosystem”, citing the insurer’s significant exposure to a company now under regulatory scrutiny.
Congress general secretary in-charge communications, Jairam Ramesh, alleged SEBI’s interim order had alleged serious irregularities at Rajesh Exports, a major player in the gold refining and jewellery business.
The shares of Rajesh Exports hit down circuit falling to 104.65 (-4.99%) on the BSE.