In terms of Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, Elitecon International Limited ('the Company') wishes to inform the Exchange ....
ELITECON · price
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Awaiting price reaction for this filing.
Elitecon International has disclosed an interim order dated December 10, 2025 from the Delhi High Court in a petition filed by Advik Capital Limited (an NBFC) claiming recovery of an alleged Rs. 64 crore loan (plus Rs. 7.15 crore interest, total Rs. 71.15 crore) taken in August 2024 for working capital. The court has restrained the company from creating third-party rights in its movable and immovable assets except in the ordinary course of business, after finding a prima facie case in favour of the petitioner. The petitioner also relied on a forensic report allegedly confirming signatures of the Managing Director on the loan documents. Elitecon categorically denies the loan transaction, calls the documents fabricated, and will file its reply within two weeks; the matter is next listed on February 11, 2026. The court order also referenced a separate Rs. 387 crore GST show cause notice against the company and a steep share price decline from around Rs. 922 to Rs. 100.
Negative for shareholders — a court-ordered asset restraint based on a prima facie finding in a creditor's favour poses liquidity and operational risk if the company cannot convincingly rebut the loan claim. Investors should monitor the company's reply and the February 2026 hearing, plus any developments on the Rs. 387 crore GST notice mentioned in the order.