IndiaPosted at: Jun 4 2026 1:50PM


Congress questions LIC’s role after SEBI flags alleged Rs 15 lakh cr revenue misrepresentation at Rajesh Exports

New Delhi, Jun 4 (UNI) Congress on Thursday cited the recent interim findings of the Securities and Exchange Board of India (SEBI) concerning Rajesh Exports and questioned how public sector institutions, particularly Life Insurance Corporation of India, failed to detect alleged irregularities despite having significant exposure to the company.
In a post on social media platform X, Congress general secretary in charge of communications Jairam Ramesh referred to SEBI’s interim report dated June 3, 2026, which reportedly alleged large-scale misrepresentation of revenues by Rajesh Exports over a five-year period from 2020-21 to 2024-25.
“SEBI has, in an interim report dated June 3, 2026, alleged a gigantic scam involving a high-flying company called Rajesh Exports which is in the gold refining and jewellery business,” Ramesh said. He added that the market regulator had pointed to “massive misrepresentation of revenues” that could amount to nearly Rs 15 lakh crore over the period under scrutiny.
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Tags: #Congress questions LIC’s role after SEBI flags alleged Rs 15 lakh cr revenue misrepresentation at Rajesh Exports
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