Advik Capital Limited has disclosed that the Securities and Exchange Board of India (SEBI) has issued an ex-parte interim order against Elitecon International Limited and associated entities, while the company's loan recovery case continues through judicial proceedings.

SEBI Interim Order Details

SEBI issued the interim order dated March 30, 2026, under the SEBI Act, 1992, directing action against Elitecon International Limited, its promoter, and certain connected persons. The regulatory action stems from alleged violations concerning Elitecon's securities and disclosure requirements.

Financial Transaction and SEBI Observations

SEBI's examination revealed that Elitecon received ₹64 crore during August 2024 through banking channels from Advik Capital. This amount corresponds to the loan advanced by Advik Capital to Elitecon, which forms the basis of ongoing legal proceedings.

The regulatory body has recorded prima facie observations relating to several concerning areas:

• Financial statement irregularities
• Misleading disclosures by Elitecon
• Significant changes in share capital and promoter shareholding
• Abnormal movements in price and trading volumes of Elitecon's scrip during the examination period

Ongoing Judicial Proceedings

The transaction between Advik Capital and Elitecon remains subject to multiple legal proceedings across different forums.

The ad-interim order from the High Court of Delhi continues to restrain Elitecon and its directors from creating third-party rights over their assets. This protective measure remains operative while the main case proceeds.

Company's Legal Strategy

Advik Capital stated it is diligently pursuing all available legal and regulatory remedies in the matter. The company emphasized that the legal nature, characterization, and accounting treatment of the ₹64 crore transaction remain exclusively sub-judice before the Hon'ble High Court of Delhi.

The company has committed to making timely disclosures upon material developments in accordance with applicable law, while maintaining that the current disclosure is made without prejudice to all rights, contentions, and remedies in pending or future proceedings.

About Advik Capital Limited

Advik Capital Limited is a New Delhi-headquartered Non-Banking Financial Company (NBFC) registered with the Reserve Bank of India as a non-deposit-taking NBFC under Registration No. B-14.00724. The company primarily focuses on providing loans and ancillary financial services, with operations aimed at addressing diverse industry needs in India's growing economy.

ADVVK Capital Limited has announced the resignation of its Company Secretary and Compliance Officer, Ms. Nisha Mittal, effective March 06, 2026. The BSE-listed company informed the stock exchange about this key managerial personnel change in compliance with regulatory requirements.

Resignation Details

Ms. Nisha Mittal, who served as Company Secretary and Compliance Officer and was designated as a Key Managerial Personnel (KMP) of the company, submitted her resignation citing personal reasons and to pursue other career opportunities. The company has confirmed that there are no other material reasons for her resignation apart from those stated in her resignation letter.

Regulatory Compliance

The intimation was made to BSE Limited in compliance with Regulation 30 read with Part A of Schedule III and other applicable provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company provided all requisite details pursuant to Regulation 30 of the Listing Regulations read with SEBI Master Circular bearing Reference No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024.

Transition Arrangements

In her resignation letter, Ms. Mittal assured the Board of Directors that she would extend full cooperation to ensure a smooth transition of her responsibilities. This includes the handover of documents, records, digital access, and ongoing compliance matters. She also requested the Board to arrange for necessary filings with the Registrar of Companies (Form DIR-12) and disclosures to stock exchanges as required under the Companies Act, 2013 and SEBI LODR Regulations.

Company Information

ADVVK Capital Limited is a BSE-listed company with CIN: L65100DL1985PLC022505. The company's registered office is located at 203, Pearl Best Height-2, Netaji Subhash Place, Pitampura, New Delhi - 110034. The resignation announcement was signed by Narendra Kumar Singhal, Whole Time Director (DIN: 10800406), on behalf of the company.