Advik Capital Limited has received a favorable outcome from the Securities and Exchange Board of India (SEBI) regarding a regulatory matter. The company announced on December 20 that SEBI has issued an adjudication order confirming no adverse action against the firm.

SEBI Adjudication Order Details

SEBI issued Adjudication Order No. Order/AK/GN/2025-26/31848-31890 dated December 19, following its investigation into certain trading transactions. The order explicitly confirms that no adverse findings, directions, or penalties have been imposed on Advik Capital, its promoter, or associated persons.

The matter originated from a Show Cause Notice (SCN) dated February 13, which the company had previously disclosed to the exchanges on February 18. The notice pertained to certain trading transactions in equity shares of another BSE-listed company, undertaken by Advik Capital, its promoter, and certain other associated persons.

Company's Response to Misleading Communications

Advik Capital has expressed concern about unauthorized and misleading communications that have been circulated regarding the SEBI matter. The company stated that certain persons, apparently acting with malafide intent, have distributed communications that selectively emphasize the issuance of the Show Cause Notice while ignoring the actual outcome.

According to the company's disclosure, these communications have:

• Falsely portrayed the company as being under scrutiny regarding its businesses and governance
• Been intended to damage the company's reputation
• Aimed to mislead investors and influence public perception

Impact Assessment

The company has confirmed that there is no impact on its financial, operational, or other activities as a result of the SEBI order. This assessment is based on the fact that no adverse findings, directions, or penalties were imposed on Advik Capital, its promoter, or associated persons.

Stakeholder Advisory

Advik Capital has strongly urged all stakeholders to disregard any unverified or unauthorized communications related to this matter. The company emphasized that stakeholders should rely solely on official disclosures for accurate and complete information about the company's regulatory status and business operations.

The complete SEBI adjudication order is available on the SEBI website for public review, providing transparency regarding the regulatory authority's final decision on the matter.

Advik Capital Limited has escalated its ₹71.15 crore recovery case against Elitecon International Limited by initiating insolvency proceedings under the Insolvency and Bankruptcy Code, 2016. The National Company Law Tribunal (NCLT), New Delhi Bench-VI, passed an order dated January 5, 2026, in the petition filed under Section 7 of the IBC, marking a significant development in the ongoing legal dispute.

NCLT Proceedings and Directions

The NCLT has issued comprehensive directions for the insolvency proceedings, establishing a structured timeline for legal submissions and responses:

The tribunal has directed Advik Capital to serve notice on Elitecon International through all prescribed modes and file proof of service before the next hearing date. The respondent company has been granted two weeks to file its reply from the date of notice service.

Background of Financial Dispute

The insolvency proceedings stem from the original loan recovery case where Advik Capital alleged a loan agreement dated August 12, 2024. The financial parameters of the disputed transaction include:

The Delhi High Court had earlier passed an interim order on December 10, 2025, restraining Elitecon International from creating third-party rights in assets except in ordinary business course, with proceedings scheduled for February 11, 2026.

Elitecon's Continued Denial and Defense

Elitecon International maintains its categorical denial of the loan allegations, describing the claims as "false, baseless and unsupported by genuine records." The company continues to assert that documents relied upon by Advik Capital appear fabricated and unauthorized, while committing to contest the allegations through appropriate legal channels.

Company Profile and Market Position

Advik Capital Limited operates as an RBI-registered Non-Banking Financial Company (NBFC) headquartered in New Delhi. The company focuses on providing loans and ancillary financial services, with Registration No. B-14.00724 from the Reserve Bank of India. As a BSE-listed entity with scrip code 539773, Advik Capital aims to expand operations and explore investment opportunities in the growing economy.

Current Status and Legal Framework

The NCLT proceedings represent the statutory process under the Insolvency and Bankruptcy Code for adjudication of claims arising from default in repayment obligations. This provides a structured judicial framework for enforcement of financial claims by regulated lenders. The matter remains pending before the NCLT New Delhi, subject to further orders and final adjudication, with parallel proceedings continuing in the Delhi High Court.