Advik Capital Limited Receives Update on SEBI Interim Findings in Elitecon Case
New Delhi | April 1, 2026 – Advik Capital Limited ("the Company") announced that the Securities and Exchange Board of India (SEBI) has issued an Ex-Parte Interim Order dated March 30, 2026, against Elitecon International Limited ("Elitecon"), its promoter, and certain connected persons. The order relates to alleged regulatory violations concerning Elitecon's securities and disclosures.According to the order, SEBI has noted the receipt of ₹64 crore by the Company during August 2024 through banking channels, related to a loan advanced to Elitecon International Limited. SEBI's observations include preliminary findings regarding financial statement irregularities, misleading disclosures, changes in share capital and promoter shareholding, and abnormal movements in the price and trading volumes of Elitecon’s scrip.
The legal nature and accounting treatment of the transaction with Elitecon remain under consideration in ongoing proceedings before the Hon'ble High Court of Delhi. A court order restraining Elitecon and its directors from creating third-party rights over their assets remains in effect. Proceedings initiated by the Company before the Hon'ble National Company Law Tribunal under the Insolvency and Bankruptcy Code, 2016 are also pending.
Advik Capital Limited is pursuing legal and regulatory remedies and will provide updates as material developments occur.
About Advik Capital Limited:
Advik Capital Limited, headquartered in New Delhi, is a Non-Banking Financial Company registered with the Reserve Bank of India as a non-deposit-taking NBFC, Registration No. B-14.00724.Source:
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