Why did ED, CBI fail to raise red flags over alleged irregularities of Rajesh Exports, asks Congress
The Indian Congress party has criticized government agencies for failing to act on alleged financial irregularities at Rajesh Exports. The party claims that SEBI findings of massive revenue misrepresentation highlight significant regulatory failures and the dangers of crony capitalism.
Why it matters
The allegations raise serious questions about corporate governance and the effectiveness of financial oversight in India's major corporations.
The Congress on Friday (June 5, 2026) questioned why economic offences investigating agencies such as the Enforcement Directorate (ED) and the Serious Fraud Investigation Office (SFIO) among others failed to act over alleged financial irregularities at Rajesh Exports, a jewellery company, after interim findings by the Securities and Exchange Board of India (SEBI) pointed to one of the biggest case of financial misrepresentation in India’s corporate history. Addressing a press conference, Congress media and publicity department chairman Pawan Khera said the findings exposed not only irregularities in reported revenues of about ₹15.15 lakh crore but exposed serious weaknesses in the government’s regulatory oversight. It reflected the dangers of a “crony capitalist model”, Mr. Khera added.
The article focuses on the opposition party's critique of the government's regulatory performance, which is a standard political framing.
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