Power to relax enforcement: Board may permit procedural waivers when requirements cause undue hardship after hearing. The Board may relax strict enforcement of Buy-back Regulations, except provisions from the Companies Act, where a requirement is procedural or would cause ... Summary
Power to relax enforcement: Board may permit procedural waivers when requirements cause undue hardship after hearing.
The Board may relax strict enforcement of Buy-back Regulations, except provisions from the Companies Act, where a requirement is procedural or would cause undue hardship; companies must file a self-attested application with detailed grounds and pay a prescribed non-refundable fee, and the Board, after affording a reasonable opportunity of being heard and considering relevant facts, will pass a reasoned order granting or rejecting the relaxation.
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