Securities And Exchange Board Of India - Subsection
Section 20(v) in Securities and Exchange Board of India (Buy-Back of Securities) Regulations, 2018
(v)Where part of the escrow account is in the form of a bank guarantee, the company shall deposit with a scheduled commercial bank, in cash, a sum of at least 2.5 per cent of the total amount earmarked for buy-back as specified in the resolution of the board of directors or the special resolution, as the case may be, as and by way of security for fulfillment of the obligations under the regulations by the company.
