Power to issue directions: Board may bar dealing and require divestment for buy back related violations to protect markets. The Board may direct remedial measures in the interests of the securities market: prohibit specified dealing in securities; bar cancellation of illegally bought back securities; require sale or divestment of shares or other specified securities acquired in violation; act against registered intermediaries; prohibit market access to concerned persons and their associates; order disgorgement of ill gotten gains; and restrain further buy back offers. Insider trading or market manipulation is to be dealt with under the separate insider trading and unfair trade practices regulations.
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 issue directions: Board may bar dealing and require divestment for buy back related violations to protect markets.
The Board may direct remedial measures in the interests of the securities market: prohibit specified dealing in securities; bar cancellation of illegally bought back securities; require sale or divestment of shares or other specified securities acquired in violation; act against registered intermediaries; prohibit market access to concerned persons and their associates; order disgorgement of ill gotten gains; and restrain further buy back offers. Insider trading or market manipulation is to be dealt with under the separate insider trading and unfair trade practices regulations.
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