Advik Capital Wins Interim Relief, But What’s Next in the ₹71 Crore Battle?

Advik Capital Ltd, a Non-Banking Financial Company (NBFC) registered with the Reserve Bank of India, has secured interim asset protection from the Delhi High Court in its ongoing legal battle against Elitecon 
International Ltd. The case stems from loan facilities worth ₹64 crore disbursed under a formal agreement.

Following non-repayment, Advik Capital issued a recall notice demanding ₹71.15 crore, inclusive of accrued interest. The company sought urgent relief under Section 9 of the Arbitration and Conciliation Act, 1996, leading to the court’s interim order.

This judicial safeguard reinforces the importance of protecting NBFC lending practices and highlights the judiciary’s role in maintaining the integrity of India’s regulated credit ecosystem. Advik has also initiated insolvency proceedings against Elitecon at the National Company Law Tribunal (NCLT), further escalating the recovery process.

Key Highlights

• Court Relief: Delhi High Court grants interim asset protection to Advik Capital.
• Loan Dispute: Originated from ₹64 crore loan facilities, now valued at ₹71.15 crore with interest.
• Legal Basis: Petition filed under Section 9 of the Arbitration and Conciliation Act, 1996.
• Next Steps: Insolvency proceedings initiated at NCLT against Elitecon International Ltd.
• Sector Impact: Reinforces judicial safeguards for NBFC lending in India.

Sources: Bharat Neeti, Delhi High Court Order, ScanX News