The Economic Times

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

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.