• Revenue discrepancy explanation: Rajesh Mehta stated that the ₹15.5 lakh crore figure reflects genuine consolidated revenues over four to five years, largely generated from Swiss subsidiary Valcambi refining and selling approximately 900 tonnes of gold annually. He asserted that SEBI erroneously treated Valcambi’s gross profit and EBITDA of around ₹3,000 crore as its total revenue.
• SEBI interim order: Mehta emphasized that the regulatory order is interim rather than a conclusive finding, attributing the allegations to a communication error and misunderstanding regarding the company's submissions of more than 80,000 documents and 400 GB of data.
• Subsidiary client confidentiality: In response to queries about withholding Swiss entity records, Mehta stated that complete audited balance sheets and P&L accounts were submitted, while specific customer names were withheld to protect client confidentiality, including sales to global central banks.
• Affluence trade allegations: Addressing SEBI's findings regarding ₹11,000 crore in transactions with Affluence, Mehta maintained that legitimate gold bullion trading took place over four years and denied any revenue inflation or personal account manipulation.