Securities and Exchange Board of India (Buy-Back of Securities) (Amendment) Regulations, 2026.

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....rd of India (Buy-Back of Securities) Regulations, 2018, namely:- 1. These regulations may be called the Securities and Exchange Board of India (Buy-Back of Securities) (Amendment) Regulations, 2026. 2. They shall come into force on August 1, 2026. 3. In the Securities and Exchange Board of India (Buy-Back of Securities) Regulations, 2018, - I. in regulation 4, - (i) in sub-regulation (iv), in clause (b), - a. in sub-clause (i), after the symbol ",", the word "and" shall be inserted; b. in sub-clause (ii), - i. before the words "stock exchange", the word "the" shall be inserted; ii. the symbol ";" appearing after the words "stock exchange", shall be substituted with the symbol ":....

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.... word "the" shall be inserted; (iii) in clause (aa), after the word "information", the word "as" shall be inserted. III. in regulation 9(xi), - (i) in clause (c), - a. the word "appropriate" shall be omitted; b. in the Explanation, after the word "making", the word "the" shall be inserted; (ii) in clause (d), after the word "payment", the word "of" shall be inserted; (iii) in clause (e), - a. after the word "such", the word "a" shall be inserted; b. after the word "be", the word "made" shall be inserted; c. the word "until" appearing in two places therein shall be substituted with the word "till"; d. after the word "obligations", the words "as....

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....word "the" shall be inserted; c. clause (b) shall be substituted with the following clause, - "(b) The public announcement shall be made within two working days from the date of passing of the resolution by the board of directors or the date of declaration of results of the postal ballot for special resolution, as the case may be, and shall contain the disclosures as specified in Schedule IV;"; d. after clause (b), the following clause shall be inserted, namely, - "(ba) The company shall, within one working day from the date of public announcement, send an intimation through electronic mode regarding the open market buy-back offer to those persons who were its shareholders as on the date of making the pub....

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....clause (b) shall be substituted with the following clause, - "b) the bank guarantee shall be returned by the merchant banker only after completion of all obligations under the regulations."; (iv) in sub-regulation (viii), - a. in clause (a), the word "was" shall be substituted with the word "is"; b. in clause (b), the word "were" shall be substituted with the word "are". VIII. in regulation 21(iii), - (i) the word "so" appearing after the word "certificate" shall be omitted; (ii) the word "the" appearing after the word "during", shall be substituted with the word "a". IX. in regulation 22A, - (i) in sub-regulation (i), the words "which has been" shall be substi....

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....r specified securities continuing to apply pursuant to invocation of encumbrances, and also subject to the conditions as may be specified by the Board. iv. the company shall provide necessary instructions to the depositories for giving effect to such freezing of shares or other specified securities." XI. after the existing regulation 24, following regulation shall be inserted, namely, - "Option to company for not engaging merchant banker: 24A. (1) Notwithstanding anything contained in these regulations, the requirement of engaging a merchant banker will be discretionary on part of the company undertaking buy-back of shares or other specified securities under these regulations. (2) In case the com....