Jyoti Ltd: BSE Rejects Listing Application for Equity Shares
Jyoti Ltd has announced the rejection of its listing application for 59,63,636 Equity Shares by the Bombay Stock Exchange (BSE). The shares were allotted to Rare Asset Reconstruction Pvt. Ltd. on May 2, 2018. BSE cited the lack of prior shareholder approval for the allotment as the reason for rejection. The company's appeals against this decision were dismissed by the Securities Appellate Tribunal (SAT) and subsequently by the Supreme Court of India. Following these dismissals, a special resolution was passed by shareholders on May 17, 2025, ratifying the allotment. A fresh listing application was filed on May 31, 2026, but was again rejected by BSE on October 12, 2026. The company states there are no financial implications and is taking appropriate steps.
Key Highlights
- BSE rejected Jyoti Ltd's application to list 59,63,636 equity shares.
- Rejection was due to lack of prior shareholder approval for allotment.
- Appeals to SAT and Supreme Court were dismissed.
- A fresh application was also rejected by BSE.
- Company reports no financial implications from the rejection.
Price Impact
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