Main to remember
- Bombay Stock Stock Exchange (BSE) has denied the Jetking Infotrain list because the company planned to invest 60% of the funds collected in virtual digital assets, mainly Bitcoin.
- The Indian regulatory framework allows companies to use profits for cryptography purchases, but not public fundraising for such investments.
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The Bombay Stock Exchange rejected the request for Jetking Infotrain after the IT training company disclosed the plans to allocate around 60% of the funds collected to virtual digital assets as a cash strategy.
Jetking, which planned to lift more than 6 sterling books through stock sales, intended to invest mainly in Bitcoin using the product of public fundraising. The company declared that it evaluated the situation and envisaged appeal to the court of appealing securities after the rejection of the ESB.
The decision reflects the current regulatory position of India which allows companies to buy cryptographic assets using internal cash benefits, but prohibits the collection of public funds specifically for such investments. The sales products for digital assets are restricted due to speculative concerns and clearer guidelines on the financing of the Treasury.
This marks the first known case of an Indian exchange refusing an explicit list explicitly on cryptographic cash plans, signaling an in -depth examination of the collection of funds linked to virtual digital assets as regulations continue to evolve.
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