Section 26 in Securities and Exchange Board of India (Buy-Back of Securities) Regulations, 2018
26. Powers of the Board to issue directions.
- (i) The Board may, without prejudice to its right to initiate any other enforcement action, including prosecution under section 24 of the Act, give such directions in the interest of investors in securities and the securities market, as it deems fit, including:(a)prohibiting the person concerned from cancelling any of the securities bought back in violation of the provisions of these regulations or the Companies Act;(b)directing the person concerned to sell or divest the shares or other specified securities acquired in violation of the provisions of these regulations or any other law or regulations;(c)restraining the company from making a further offer for buy-back;(ii)A copy of such direction issued by the Board shall also be forwarded to Registrar of Companies.
