accordance with the provisions of the Securities and Exchange Board of India (Buyback of Securities) Regulations, 2018 made under the Securities and Exchange Board
There is an erroneous belief that the sole reason for buyback is to block hostile takeovers. In this connection it is pertinent to list ... unwelcome take over bids.
3.10 Almost all OECD countries allow companies to buyback shares subject to certain regulations. Unfortunately, Section 77 (read with Section
with a view to allow Indian companies to buy
hack FCCBs. allowed buyback of FCCB both under
"automatic route'' and "approval ... vases 30 to 33 of
the paper bookl. Under the automatic route, buyback of
FCCB was subject to following conditions:
(i) the buyback value
provision for arbitration as contained in Clause 12 of a
Share Buyback Agreement, dated 27th March, 2018, executed between
the petitioner and the respondents ... That during the course of Petitioner's employment, the
aforementioned Share Buyback Agreement was executed
amongst the Petitioner, Respondent No. 1 Company
clause (iv) of section 2(22) of the Act specifically excludes a buyback
of shares undertaken under section 77 A of the Companies ... total income of the assessee. However, with respect to
the buyback of shares, the AO had accepted the explanation of the
assessee and no adjustment
Dcit, New Delhi vs M/S. Paramount Communication Pvt. ... on 15 June, 2021
IN THE
Bharat Nidhi Limited („BNL‟ in short) is proceeding to
undertake buyback of shares at a grossly understated valuation in breach
of the minimum public share ... also
the grievance of the petitioners that the process of buyback is being
undertaken when investigation in respect of the promoters of respondent
stock exchange regulations. Under clause 12 HFCL agreed that HFCL shall buyback the said shares from the plaintiffs provided HFCL is not able to offer ... before the date of 31 -12-2003 HFCL will be free to buyback the shares from the plaintiffs on spot delivery basis @ price
Income Tax Act, 1961 , with
regard to capital gains on buyback of shares and also taken note of
relevant provisions of the Companies ... deals with buyback of
shares, capital reduction and arrangement & compromise referred to
u/ss.391 to 393 of the Companies Act, 1956 , held that
Aban Offshore Ltd., Chennai vs Dcit Corporate Circle 1(1), Chennai on 12 April, 2021