Buy-back disclosure requirements require prompt merchant banker appointment and timely public announcement before book-building starts. Regulation 22A requires that, after Board or shareholder approval for a buy-back, the company appoint a merchant banker and make a public announcement within two working days; the announcement must comply with Schedule II disclosures and include the methodology for pre-opening intimation as per Schedule VI, and the book building process must commence within seven working days of the public announcement.
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Provisions expressly mentioned in the judgment/order text.
Buy-back disclosure requirements require prompt merchant banker appointment and timely public announcement before book-building starts.
Regulation 22A requires that, after Board or shareholder approval for a buy-back, the company appoint a merchant banker and make a public announcement within two working days; the announcement must comply with Schedule II disclosures and include the methodology for pre-opening intimation as per Schedule VI, and the book building process must commence within seven working days of the public announcement.
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