Management Change2 April 2026 at 12:51 pm
Elitecon International Ltd Independent Director, Mr. Susanta Kumar Panda, Resigns Citing SEBI Proceedings
AI Summary
Mr. Susanta Kumar Panda, a Non-Executive Independent Director of Elitecon International Limited, has resigned effective from the closing hours of April 02, 2026. The resignation is due to ongoing regulatory proceedings involving the company, its Managing Director, and certain individuals, with an interim order issued by the Securities and Exchange Board of India on March 30, 2026, alleging certain violations.
Key Highlights
- Mr. Susanta Kumar Panda has resigned from his position as Non-Executive Independent Director of Elitecon International Limited.
- The resignation is effective from the closing hours of April 02, 2026.
- The resignation is due to ongoing regulatory proceedings involving the company, its Managing Director, and certain individuals.
- An interim order has been issued by the Securities and Exchange Board of India on March 30, 2026, alleging certain violations.
- The company is expected to complete all necessary statutory compliances, including intimations to the Stock Exchange(s) and filings with the Registrar of Companies, at the earliest, with respect to Mr. Panda's resignation.