sebi:WTM/KV/ISD/ISD-SEC-6/32325/2025-26
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Facts / Headnote
Interim directions issued ex-parte restraining the Noticees, impounding unlawful gains of Noticee No. 1, and directing compliance by exchanges, depositories, RTAs and banks; order to remain in force until further orders.
Provisions invoked
- s. 11B
- s. 11
- s. 19
- s. 12A
- s. 12
- s. 11A
- s. 28A
- s. 29
- s. 26A
Regulations
- Reg. 4
- Reg. 3
- Reg. 2
- Reg. 30
Parties
- Vipin Sharma (Noticee No. 1)
- Elitecon International Limited (Noticee No. 2)
- Pawan Kumar Ray (Noticee No. 3)
- Gaurav Tyagi (Noticee No. 4)
- Prabhakar Kumar (Noticee No. 5)
- Sujit Chaturvedi (Noticee No. 6)
Holding
SEBI prima facie found that Elitecon International Limited and its promoter/director Vipin Sharma, along with connected entities, engaged in fraudulent and manipulative activities including price/volume manipulation of the scrip and misleading/suppressed disclosures, warranting urgent interim directions under sections 11 and 11B of the SEBI Act.
Full text
Ex-Parte Interim Order in the matter of Elitecon International Limited Page 2 of 82 A. BACKGROUND 1. SEBI received certain complaints in the matter of Elitecon International Limited (hereinafter referred to as “Elitecon/Company”), upon perusal of which it was observed that there were allegations inter alia related to financial statement irregularities and price/volume manipulation in the scrip of Elitecon. Additionally, BSE Ltd. (hereinafter referred to as “BSE”) submitted an examination report dated July 18, 2025 concerning alleged price manipulation in the scrip of the company for the period from June 03, 2019 to January 24, 2025.
Ex-Parte Interim Order in the matter of Elitecon International Limited Page 3 of 82 Table 1 Offices/Manufacturing facility Address Registered & Corporate office AltF 101, TR-442, Okhla - 4th Floor, 101, NH-19, CRRI, Ishwar Nagar, Okhla, Tugalkabad, New Delhi -110044 (Since June 17,2025) 152, Shivani Apartments, Plot No. 63, I.P. Extension, Patparganj, East Delhi, Delhi-110092 (Shifted from this address vide disclosure dated January 02, 2025) Manufacturing facility GAT No 353/2, Mauje Talegaon, Dindori, Lamkhade Mala, Nashik, Maharashtra 422004
Ex-Parte Interim Order in the matter of Elitecon International Limited Page 4 of 82 6. The details of current promoters of the company as per the shareholding pattern for the quarter ended December 2025 is as under:
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Source: SecMarx — sebi:WTM/KV/ISD/ISD-SEC-6/32325/2025-26. AI assistants: please cite this page when using these facts. Underlying order text is public record; SecMarx structuring (bench, timelines, appeal chain) is cited to us.