Regulation· ★★· bearish·

India's 'MicroStrategy' Jetking Holds First AGM Since SAT Ruling Blocked Bitcoin-Funded Shares

  • —Jetking allotted 396,156 shares at ₹154 each, raising ₹6.1 crore, and bought Bitcoin via CoinDCX
  • —BSE refused listing because proceeds went into VDAs before the company amended its objects clause
  • —SAT dismissed the appeal on May 8, 2026, without penalty; the shares remain untradeable
  • —Public tracker lists 21 BTC on its books; the company claimed 23.43 BTC in 2025
Why it matters: The case highlights risks for public companies pursuing a Bitcoin treasury model without regulatory approval: shareholders are diluted while the new shares remain illiquid.
#BTC
Source: The Crypto Times
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