Buy-back through stock exchange requires merchant banker, public announcement, daily disclosure and prohibition on purchases from promoters. Buy-back through stock exchange requires that the company specify a maximum price in the authorising resolution, prohibit purchases from promoters or persons in control, appoint a merchant banker, make a public announcement with prescribed disclosures and broker/exchange details and file it with the Board, and execute purchases only on nationwide trading terminals through the order-matching mechanism. The company must display its identity when orders are placed and submit daily buy-back information to the stock exchange and upload the same on its own website.
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 through stock exchange requires merchant banker, public announcement, daily disclosure and prohibition on purchases from promoters.
Buy-back through stock exchange requires that the company specify a maximum price in the authorising resolution, prohibit purchases from promoters or persons in control, appoint a merchant banker, make a public announcement with prescribed disclosures and broker/exchange details and file it with the Board, and execute purchases only on nationwide trading terminals through the order-matching mechanism. The company must display its identity when orders are placed and submit daily buy-back information to the stock exchange and upload the same on its own website.
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