Elitecon International Ltd has provided an update on the restoration of its banking operations following the SEBI interim order issued on March 30, 2026, which had restricted debits from the company's bank accounts as part of an ongoing investigation.

The company said it has disputed the allegations, filed its preliminary response with SEBI, and is continuing to cooperate with the regulator while pursuing the matter through the prescribed legal process. The banking restrictions had significantly impacted its business operations, payment processing, and day-to-day activities during the quarter ended June 30, 2026.

Following the company's request for operational relief, SEBI issued a clarification to the concerned banks, and Kotak Mahindra Bank has informed the company that restrictions on its account have been removed. Elitecon said it is engaging with other banks for implementation of the clarification and expects the development to help restore normal business operations while the regulatory proceedings continue.