Buy-back disclosure requirements require explanatory statements to state maximum price and promoter tender details for tender offer buy-backs. Regulation 7 requires the explanatory statement annexed to the Companies Act notice to state the maximum price for the buy-back of shares or other specified securities and whether the board is authorised to determine the specific price later. If a promoter intends to offer securities, the statement must disclose the quantum proposed to be tendered and details of the promoter's transactions and holdings for the six months before the special resolution, including numbers acquired and the price and date of acquisition.
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 disclosure requirements require explanatory statements to state maximum price and promoter tender details for tender offer buy-backs.
Regulation 7 requires the explanatory statement annexed to the Companies Act notice to state the maximum price for the buy-back of shares or other specified securities and whether the board is authorised to determine the specific price later. If a promoter intends to offer securities, the statement must disclose the quantum proposed to be tendered and details of the promoter's transactions and holdings for the six months before the special resolution, including numbers acquired and the price and date of acquisition.
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