Sebi cracks down on Elitecon International, bars promoters from market for manipulation

Image for article Sebi cracks down on Elitecon International, bars promoters from market for manipulation
News Source : The Times of India

News Summary

  • Sebi passed an interim order against Elitecon International and barred key promoters over alleged misleading disclosures, governance lapses and suspicious trading.
  • The regulator flagged unusual price movements, irregular shareholding changes and discrepancies in operations, signalling possible manipulation and prompting further scrutiny as proceedings continue to determine liabilities and penalties.
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Market regulator Sebi has passed an interim order against Elitecon International Ltd and barred its key promoters from dealings in the market, citing prima facie evidence of misleading disclosures, g [+1949 chars]

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