SEBI passed ex-parte interim order on March 30, 2026 against Elitecon International and 5 connected individuals for securities fraud.
Company concealed GST Show Cause Notices totalling ₹408.65 crore; Nashik manufacturing facility found non-operational across multiple site visits.
Promoter Vipin Sharma made ₹49.84 crore profit by selling shares during artificially inflated price period via misleading disclosures.
All 6 Noticees restrained from securities trading; total ₹51.26 crore profits impounded pending forensic audit of books.