Mumbai/IBNS, June 25 -- Shares of Rajesh Exports Ltd. extended their losses on Thursday, falling 5 percent and hitting the lower circuit after the Enforcement Directorate (ED) alleged irregularities in the company's foreign exchange transactions under the Foreign Exchange Management Act (FEMA), media reports said.

ED alleges irregularities in foreign exchange transactions

According to reports, the ED has alleged that the gold refiner and jewellery exporter deviated from standard commercial practices in its foreign exchange dealings.

The agency is investigating the company's transactions under FEMA and examining whether regulatory norms were violated.

Documents related to overseas transactions under scanner

The alleged lack of support...