recommending a dividend for the financial year ending March
2016 or buy-back of the equity shares of the Company or a
combination thereof ... board of directors
5
deferred the proposal of dividend or buy-back proposal till the
next meeting of the board of directors. Eventually the board
shares or other specified
securities (hereinafter referred to as "buy-
back")out of-
(i) its free reserves; or
(ii) the securities premium account ... proceeds of any shares or other
specified securities.
Provided that no buy-back of any kind of shares or
other specified securities shall be made
shares while holding theses informations.
3. The informations relate to the buy-back of the shares by
the Company which later on was withdrawn ... these appellants were privy to the information of
impeding decision of buy-back of the shares at the rate of Rs.
350/-, the appellants withheld
made by respondent no. 3 Company to
its shareholders to buy-back their shares by a letter of offer
4
dated April ... buy-back offer was made with the
intention to provide an exit opportunity to the existing
shareholders at a fair price. The buy-back offers
Securities and Exchange
16
Board of India (Buy Back of Securities) Regulations, 1998 prohibits
the company from buy back of shares.
15. Based ... Companies
Amendment Act, 1999 which provides for buy back of its own
securities by a company subject to the conditions specified therein.
30. In addition
allottees by the
applicants. In this ARA, the provision of buy-back is given. It
provides that after expiry of 30 months from the date ... allotted to
the applicant. He would be entitled to receive the buy-back price
with a simple interest at the rate of 5%. The appellant
Board meetings dated
November 27, 2012 and December 03, 2012 approved buy-back
of shares to the extent of 25% of the paid-up capital ... time when the
Company had made the announcements regarding buy-back of
4
shares and dividend there was no reason to apprehend any
shortage
dividends (both
interim and final); (iii) issue of securities or
buy-back of securities; (iv) any major
expansion plans or execution of new projects
dividends (both interim and
final);
(iii) issue of securities or buy-back of securities;
(iv) any major expansion plans or execution of new
projects ... persistence in trading in the particular scrip;
the particulars of the buy and sell orders, namely, the
35
volume thereof; the proximity of time between
dividends (both interim and
final);
(iii) issue of securities or buy-back of securities;
(iv) any major expansion plans or execution of new
projects
