👥 HR & Workplace🇮🇳 India
Rajesh Exports Faces PLI Removal After SEBI Fraud Allegations
Mint·Sunday, 7 June 2026
The Heavy Industries Ministry may kick Rajesh Exports out of India's Production Linked Incentive scheme after SEBI alleged massive financial fraud at the Bengaluru gold processing firm. SEBI's probe claims the company inflated revenues by over ₹15 trillion over five years by attributing fake sales to overseas arms. The company says it sent 400 GB of documents to SEBI but the regulator couldn't locate the files.
Why It Matters
PLI schemes are a big part of India's push to build domestic manufacturing. A fraud of this scale inside the scheme is a red flag for the whole programme.
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