Section 4 in Securities And Exchange Board Of India (Buy Back Of Securities) Regulations, 1998
4. Company may buy-back its own shares.-
(1)A company may buy-back its [shares or other specified securities] [Substituted by S.O. 745(E), dated 18.6.2004] by any one of the following methods:-(a)from the existing shares-holders on a proportionate basis through the tender offer;(b)from open market through -(i)book-building process,(ii)stock exchange,(c)from odd-lot holders.(2)A company shall not buy back its [shares or other specified securities] [Substituted by S.O. 745(E), dated 18.6.2004] from any person through negotiated deals, whether on or of the stock exchange or through spot transactions or through any private arrangement.(3)Any person or an insider shall not deal in securities of the company on the basis of unpublished information relating to buy-back of [shares or other specified securities] [Substituted by S.O. 745(E), dated 18.6.2004] of the company.
