Disclosures to be made in the letter of offer

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....f the certificates;      (iii) Authority for the offer of buy-back;      (iv) A full and complete disclosure of all material facts including the contents of the explanatory statement annexed to the notice for the general meeting at which the special resolution approving the buy-back was passed;      (v) The necessity for the buy-back;      (vi) The process to be adopted for the buy-back;      (vii) The minimum and the maximum number of securities that the company proposes to buy-back, sources of funds from which the buy-back would be made and the cost of financing the buy-back;      (viii) Brief informati....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....s, etc., promoters holdings and any change in management structure;      (xv) The details of statutory approvals obtained;      (xvi) (1) A declaration to be signed by at least two whole-time directors that there are no defaults subsisting in repayment of deposit, redemption of debentures or preference shares or repayment of a term loans to any financial institutions or banks; (2) A declaration to be signed by at least two whole time directors, one of whom shall be the managing director stating that the Board of Directors has made a full enquiry into the affairs and prospectus of the company and that they have formed the opinion-           (a) a....