Please find attached herewith Disclosure under Regulation 30 - Order passed by the Securities Appellate Tribunal, Mumbai in Appeal No 474 of 2025 - Submission of prescribed summary format ....
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
The Securities Appellate Tribunal (SAT), Mumbai dismissed Jetking Infotrain Limited's appeal against BSE's rejection of its listing application for shares allotted via a preferential issue. The SAT found that the company violated regulations by investing preferential issue proceeds in VDAs (Virtual Digital Assets) before ROC certification of the related MoA amendment, and failed to disclose an earlier MoA amendment to BSE before obtaining in-principle approval. No monetary penalty was imposed. However, the shares from the preferential issue cannot be listed on BSE at this stage, which may restrict trading of these shares and require the company to evaluate financial and legal implications.
Shareholders face uncertainty as the shares issued through preferential allotment cannot be listed or traded on BSE. The company is evaluating further legal remedies, but the ruling is negative for investors who received these unlisted shares.