Elitecon International share price was locked in a 5% upper circuit on Tuesday, 15 September, after the company said it had received a communication from BSE regarding its application seeking a full waiver of the fine imposed for regulatory non-compliance.
The company said it is awaiting BSE’s decision on the waiver request, according to an exchange filing.
BSE had imposed a ₹1,53,400 penalty on Elitecon International for failing to submit its financial results for the quarter ended 30 June 2026, within the prescribed timeline. The penalty relates to non-compliance with Regulation 33 of the SEBI Listing Obligations and Disclosure Requirements (LODR) Regulations, 2015, which requires listed companies to disclose their quarterly financial results on time.
The exchange issued the communication on 11 September 2026, citing the company’s non-submission of Q1FY27 results.
Elitecon International’s share price today opened at ₹8.48 apiece on the BSE; the stock touched an intraday high of ₹8.59and an intraday low of ₹8.35 apiece.
Elitecon International seeks waiver of earlier ₹2.38 lakh fine
The company had also received another penalty of ₹2,38,360 from BSE on 25 August 2026, for alleged non-compliance during the quarter ended 30 June 2026.
The violations cited by the exchange related to Regulations 17(2A) and 21(2) of the SEBI LODR Regulations, concerning board meeting quorum requirements and the constitution of the Risk Management Committee.
Elitecon International submitted an application to BSE on 10 September 2026, seeking a full waiver of the fines. The company said it is currently awaiting the exchange’s decision.
The management added that, apart from the monetary penalties, no other material impact on the company’s financial or operational activities has been identified at this stage.
Elitecon International strengthens board, senior management with 8 appointments
Elitecon International Limited has strengthened its board and senior management with eight key appointments as part of its ongoing efforts to enhance governance and management oversight.
The appointments were approved at the company’s Board meeting held on 14 August 2026, and took effect from the same date. The appointments of the directors, including the Managing Director, are subject to approval from the company’s members within the timelines prescribed under applicable laws.
The revamped leadership structure includes three Additional Directors in the Non-Executive Independent category, one of whom is a Woman Independent Director, along with an Executive Director.
The company has also appointed Pradeep Kumar as Managing Director, elevated from his existing role as Additional Executive Director.
In addition, Elitecon International has appointed a Company Secretary and Key Managerial Personnel designated as Compliance Officer, a Chief Financial Officer and Key Managerial Personnel, and a Secretarial Auditor.
Last month, the company said it was undertaking measures to strengthen its board, management and governance framework, with the latest appointments forming part of the broader leadership restructuring.
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