Securities And Exchange Board Of India - Subsection
Section 20(viii) in Securities and Exchange Board of India (Buy-Back of Securities) Regulations, 2018
(viii)In the event of non-compliance with regulation 15, the Board may direct the merchant banker to forfeit the escrow account, subject to a maximum of 2.5 per cent of the amount earmarked for buy-back as specified in the resolution of the board of directors or the special resolution, as the case may be, except in cases where,-
