Mumbai/IBNS, June 4 -- Rajesh Exports Ltd. has denied allegations of revenue overstatement after market regulator SEBI initiated action against the company and its promoter-chairman Rajesh Mehta over alleged financial irregularities, media reports said.

In a filing to the BSE and NSE, the company acknowledged receiving SEBI's interim order and maintained that its financial disclosures were accurate.

Company Rejects Revenue Inflation Allegations

Responding to the regulator's findings, Rajesh Exports said there was no overstatement of revenues in its financial statements.

SEBI Bars Promoter from Trading

In its interim order, the regulator also directed the company to extend full cooperation to investigating officers and forensic audito...