This Week in Explainers: Why gold giant Rajesh Exports has come under Sebi lens

India’s gold giant Rajesh Exports has run into trouble. The jewellery maker has come under the Securities and Exchange Board of India (Sebi) lens over alleged discrepancies in the company’s financial reporting over the years.

A major fire broke out at a bed and breakfast facility in South Delhi’s Malviya Nagar, killing over 20 people, mostly foreigners. The blaze has put a spotlight on the national capital’s B&B scheme.

The Central Board of Secondary Education (CBSE) is facing backlash over its On-Screen Marking (OSM) system. Coempt Edu Teck, which was awarded CBSE’s digital evaluation contract, is now facing questions after students and their parents flagged discrepancies in answer scripts and other issues.

Here’s all this and much more in our weekly roundup from India.

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1. Sebi has accused Rajesh Exports of inflating revenues by Rs 15.15 lakh crore over a period of five years. The market regulator, in its interim order, said that 97-99 per cent of the company’s revenue generated from overseas subsidiaries, mainly Switzerland-based Valcambi SA, but claimed the jeweller did not disclose these financials.

Sebi has now barred Rajesh Exports and its owner from the securities markets until its investigation is complete. However, the company’s promoter and Chairman Rajesh Mehta has claimed that its financial disclosures over the years were correct. We take a look at the story of Rajesh Exports and its founder.

2. As many as 21 people died after a fire erupted at Flourish Stay B&B in Hauz Rani, a congested locality in Malviya Nagar. At least 11 killed were foreign nationals, particularly from Central Asian and African countries, while the rest were Indians.

A day after this mishap, another major fire incident was reported at a hospital in Bihar’s Muzaffarpur district. The back-to-back incidents have brought India’s fire safety norms under the scanner. The fire at the Delhi hotel has also prompted the government to rescind its B&B policy. Read more here.

3. Coempt Edu Teck, the Hyderabad-based company that won the CBSE’s digital evaluation contract, is embroiled in a major controversy after the board announced Class 12 results. Several students and their families took to social media, alleging answer-sheet mix-ups, blurred answer scripts, repeated portal crashes and other glitches in the OSM system.

CBSE accepted discovering around 20 cases of answer-sheet mix-ups. Coempt Edu Teck, the company behind the CBSE’s digital evaluation platform is under fire following the revelation of its controversial past. The Opposition has also raised questions on the board's process for awarding the contract to the firm. Read our report.

4. The Trinamool Congress (TMC) is staring at an existential crisis. Mamata Banerjee’s party could be headed for a split after a section of its MLAs gave their support to expelled lawmaker Ritabrata Banerjee for the Leader of the Opposition (LoP) post in the West Bengal Assembly.

The rebel faction has asserted that their disgruntlement is not with the party chief but her nephew, Abhishek Banerjee. They allege a concentration of power in Abhishek's hand, sidelining the party’s old guard. For years, Abhishek has been seen as Mamata's political heir.  The ongoing rebellion indicates that his succession may not be a done deal anymore. We explain.

5. The homegrown BrahMos missile system has helped push up India’s defence exports, which touched an all-time high of Rs 38,424 crore in 2025-26 FY. This figure is a surge of Rs 14,802 crore (62.66 per cent) over the previous fiscal year.

India has signed a deal with Vietnam to export the BrahMos missile, while a similar pact with Indonesia is in the final stages. India has already sold the supersonic cruise missiles to the Philippines. It is also in talks with various other Southeast Asian countries that are keen on buying the missile. Is the China threat increasing the Asian nations' interest in India’s supersonic cruise missiles? Read our report.

6. Venezuela’s interim President Delcy Rodriguez is a devotee of the late Indian guru Sri Sathya Sai Baba, who many believe to be a “man of miracles”. During her five-day trip to India, she is expected to visit Sathya Sai’s birthplace in Puttaparthi in Andhra Pradesh.

It is not just her, but Venezuela has a strong community of Sathya Sai Baba devotees. In fact, Rodriguez's former boss and deposed leader, Nicolas Maduro, is also one of the Indian guru's followers. Read more here.

7. The murder of a 42-year-old assistant professor has sent shockwaves. Debosmita Paul, who worked at a Delhi University (DU) college, died under mysterious circumstances. The police found her body at her apartment in Vasundhara Enclave, East Delhi.

Authorities were informed of Paul’s death by her sister, Devarati Paul. The sister had turned up at the DU professor's residence after multiple calls went unanswered. As the apartment was locked from the outside, Devarati broke the lock and entered the flat. She saw that her sister was dead. Here's what we know about the case.

8. A young Army Captain's video of his marriage proposal to his partner recently went viral online. Indian Army pilot, Captain Bharat Bhardwaj, had proposed to his girlfriend at the passing-out parade in front of a military helicopter at the Combat Army Aviation Training School (CAATS) in Nashik.

While users online praised the romantic moment, the Indian Army was not so happy. Taking cognisance of the viral video, the armed force conveyed its ‘displeasure’ to Captain Bhardwaj. But why was the episode controversial? We explain.

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