Legal1 April 2026 at 12:21 pm
SEBI Passes Interim Order Against Elitecon; Advik Capital's Loan of ₹64 Crores Noted
AI Summary
Advik Capital Ltd. informs the Exchange about SEBI's Ex-Parte Interim Order against Elitecon International Limited and certain connected persons for alleged regulatory violations. SEBI has noted the receipt of ₹64 crore by Elitecon from Advik Capital during August 2024. The order includes prima facie observations on financial statement irregularities, misleading disclosures, and abnormal price movements. Advik Capital's legal dispute with Elitecon regarding the loan is ongoing and sub-judice before the Hon'ble High Court of Delhi. The company is diligently pursuing all available legal and regulatory remedies.
Key Highlights
- SEBI passes interim order against Elitecon and connected persons
- SEBI notes ₹64 crore receipt by Elitecon from Advik Capital
- Prima facie observations made on financial statement irregularities and misleading disclosures
- Advik Capital's legal dispute with Elitecon ongoing and sub-judice
- Advik Capital diligently pursuing legal and regulatory remedies