Regulatory9 May 2026, 04:51 pm
Jetking Infotrain: SAT Upholds BSE Rejection of Preferential Allotment
AI Summary
The Securities Appellate Tribunal (SAT), Mumbai, dismissed Jetking Infotrain's appeal against BSE's rejection of the company's listing application for preferential allotment shares. SAT found that Jetking utilized preferential issue proceeds to invest in VDAs before RoC certification and did not disclose the first MoA amendment to BSE. The order is effective from May 8, 2026. The company is evaluating the financial and legal implications.
Key Highlights
- SAT dismissed Jetking Infotrain's appeal regarding BSE's rejection of share listing.
- The order upholds BSE's decision to reject the listing of preferential allotment shares.
- SAT cited premature VDA investment and non-disclosure of MoA amendment as reasons.
- No monetary penalty was imposed, but the company faces listing challenges.
- Jetking is assessing the financial and legal implications of the SAT order.
Price Impact
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