Buy-back utilisation requirement: companies must deploy the majority of earmarked funds and allocate a significant portion early in the buy-back period. Regulation 15 requires that a company ensure at least seventy-five per cent of the amount earmarked in the board or special resolution for a buy-back is utilised to repurchase shares or specified securities, and that a prescribed minimum portion of the earmarked amount be deployed within the initial half of the buy-back period as introduced by the amending notification.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Buy-back utilisation requirement: companies must deploy the majority of earmarked funds and allocate a significant portion early in the buy-back period.
Regulation 15 requires that a company ensure at least seventy-five per cent of the amount earmarked in the board or special resolution for a buy-back is utilised to repurchase shares or specified securities, and that a prescribed minimum portion of the earmarked amount be deployed within the initial half of the buy-back period as introduced by the amending notification.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
