Securities And Exchange Board Of India - Subsection
Section 19(1) in Securities And Exchange Board Of India (Buy Back Of Securities) Regulations, 1998
(1)The company shall ensure that, -(a)the letter of offer, the public announcement of the offer or any other advertisement, circular, brochure, publicity material [or public notice referred to in clause (a) of sub-regulation (1) of regulation 5A] [Inserted by S.O. 1181(E), dated 28.11.2001] shall contain true, factual and material information and shall not contain any misleading information and must state that the directors of the company accepts the responsibility for the information contained in such documents;(b)the company shall not issue any shares or other specified securities including by way of bonus till the date of closure of the offer made under these regulations;(c)the company shall pay the consideration only by way of cash;(d)the company shall not withdraw the offer to buy-back after the draft letter of offer is filed with the Board or public announcement of the offer to buy-back is made;(e)the promoter or the person shall not deal in the shares of the company in the stock exchange during the period the buy-back offer is open.
