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        SEBI

        Regulation 28 - Power to relax strict enforcement of the regulations

        Securities and Exchange Board of India (Buy-back of Securities) Regulations, 2018
        Chapter VI
        MISCELLANEOUS

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        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.
                      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.

                            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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