Nitin Gupta confirms NFRA probe into Rajesh Exports's ₹15.5L/cr gap
Rajesh Exports is under scrutiny as the National Financial Reporting Authority (NFRA) starts investigating claims of revenue misstatements.
This follows the Securities and Exchange Board of India, or Sebi, spotting a massive ₹15.5 lakh crore gap in the company's financials last month.
NFRA chair Nitin Gupta confirmed the probe at a Mumbai event, noting that it has no set deadline yet.
SEBI asks NFRA to probe auditors
Sebi has also asked NFRA to check if Rajesh Exports's auditors played any role in these issues, aiming for more transparency and accountability in how listed companies report their finances.
At the same event, Gupta highlighted that real board independence matters, not just on paper, and warned companies not to blindly trust AI tools for financial reporting without proper checks for bias and security.