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of <h1>Companies Must Destroy Bought-Back Securities Within 15 Days as per Regulation 11; Compliance and Reporting Required</h1> Regulation 11 of the Securities and Exchange Board of India (Buy-back of Securities) Regulations, 2018, mandates that companies must extinguish and physically destroy securities certificates bought back within fifteen days of acceptance, overseen by a registrar or merchant banker and a secretarial auditor. All securities must be extinguished within seven working days after the buy-back period ends. For dematerialized securities, destruction must follow SEBI guidelines. A compliance certificate, verified by relevant parties, must be submitted to SEBI within seven working days of destruction. Companies must also report extinguished securities to stock exchanges within seven days and maintain a detailed register of buy-back transactions.
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