Securities And Exchange Board Of India - Subsection
Section 10(8) in Securities And Exchange Board Of India (Buy Back Of Securities) Regulations, 1998
(8)Where the escrow account consists of bank guarantee or deposit of approved securities, the company shall also deposit with the bank in cash a sum of at least one-percent of the total consideration payable, as and by way of security for fulfilment of the obligations under the regulations by the company.
