Elitecon International Limited has disclosed details of a search operation conducted by the GST Department at its former registered office, resulting in temporary sealing of the premises. The company made this disclosure under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Search Operation Details

The Directorate General of GST Intelligence (DGGI), Regional Unit, Agra, conducted a search operation at the company's then registered office located at 152, Shivani Apartment, Plot No. 63, I.P. Extension, Patparganj, East Delhi – 110092 on November 25, 2024.

Premises Sealing and De-sealing

During the search proceedings, Managing Director Vipin Sharma was not available as he was travelling. The GST Department proceeded to seal the registered office on November 25, 2024, before the company's counsel could reach the premises. A Panchnama was drawn on the same day documenting the sealing of the office premises, which was subsequently communicated to the company's counsel.

The sealed premises were later de-sealed by the department on January 29, 2026, marking the end of the sealing period.

Office Relocation

In the interim period, Elitecon International had already shifted its registered office from the sealed premises to a new location. The company relocated its registered office to 5, Building No. 5, 2nd Floor, Park End, Vikas Marg, Preet Vihar, Delhi-110092, with effect from January 02, 2025. This relocation was completed in compliance with applicable statutory provisions.

Financial Impact Assessment

Regarding the financial implications of these developments, the company has stated that the financial, operational or other impact of the matter cannot be ascertained or quantified in monetary terms. The company has not provided specific details about the nature of the alleged violations or contraventions that led to the search operation.

The disclosure was made to BSE Limited and The Calcutta Stock Exchange Ltd. as part of the company's regulatory compliance obligations under the listing requirements.

Elitecon International Limited has disclosed ongoing legal proceedings before the Bombay High Court in connection with investigations initiated by the Directorate General of GST Intelligence (DGGI). The BSE-listed company made this disclosure under Regulation 30 of SEBI's Listing Obligations and Disclosure Requirements on February 14, 2026.

Background of Legal Proceedings

The company had earlier sought consolidation and transfer of multiple investigations initiated by different DGGI formations to a single jurisdiction, specifically the Nashik Regional Unit. This request was made on administrative and jurisdictional grounds, particularly considering that the company's Agra unit had ceased operations since September 2022.

Court Orders and Subsequent Developments

The Bombay High Court disposed of the writ petition on July 22, 2024, while recording an undertaking that Mr. Vipin Sharma, Director of the company, would cooperate with the investigating authority when summoned. Importantly, the court recorded no finding of non-cooperation against either Mr. Vipin Sharma or the company.

A Review Petition No. 18 of 2025 was subsequently filed seeking clarification and modification of certain aspects of the original order. This petition was heard on February 20, 2025, and was partly allowed, with no adverse findings recorded against Mr. Vipin Sharma.

Contempt Petition Filed

The DGGI Agra Regional Unit filed Contempt Petition No. CP 4 of 2025 before the Bombay High Court, alleging non-compliance with the order dated July 22, 2024. The petition was served via email on August 14, 2025, and subsequently served at Mr. Vipin Sharma's residential address on August 20, 2025.

Company's Position and Current Status

The company has clarified that the allegations made in the contempt petition are disputed and are being contested by Mr. Vipin Sharma in accordance with law. The proceedings remain sub judice with no final determination by the court. The company and its management have reiterated their commitment to full cooperation with lawful authorities in accordance with applicable legal provisions.

Regarding DGGI investigations, the company noted that while certain proceedings have been initiated by DGGI Nagpur through a Show Cause Notice, no Show Cause Notice has been issued by DGGI Agra after completion of information gathering and submission of all required documents.

Financial Impact Assessment

Based on the company's current assessment, there is no material financial or operational impact on Elitecon International Limited arising from these legal proceedings. The company continues to extend full cooperation to the authorities and maintains that it will continue to do so throughout the process.