Rajesh mehata, one of the top gold sellers in India. He has been alleged for near 15 lakh crore rupees fraud case.
His company is selling gold from his own company branch in other nation. But when sebi ask this company to show prove for this much of sell such as invoices, customer records etc.
Those companies have not proper record of sell of the gold. So sebi found there is a disproportionate number is shown from rajesh mehata.
Sebi has also state that 97 to 98 percent of money has been not declared properly. That is nearly 15 lakh crores are inflated or wrong and presented without any proof.
Rajesh mehata has said that sebi has been confused between the gross profit and revenue.
But sebi has been investigating the proof of sell. That company rajesh mehata has not able to give at satisfactionable level.
So this case has been continued till now. Sebi has initiated inquiry and ban rajesh mehta from trading.
If this found to be true then this will be the biggest accounting scam and also the failure of our administration to identify such scams. It is not just number it shows how much is negligence in the country that no one check for truth, accountability. And only public image is the trust behind the success of people.
What do you think about it…Write in the comments….