Exchange Board of India established under section 3 of the Act; (d) "Buyback period" means the period between the date of board of directors resolution ... postal ballot for special resolution, as the case may be, to authorize buyback of shares of the company and the date on which the payment
under the
Subscriptions and Shareholders Agreement; and (iii) buyback of shares from investors in
SMMS by SMMS which resulted in SMMS becoming 100 percent subsidiary
monitor the sales and import of ultrasound
machines including portable or buyback,
assembled, gift, scrap or demo (Emphasis
Supplied);
(ii) ensue regular quarterly reports from ... manufacturers, retailers, distributors, importers, dealers
and technicians dealing in sale, buyback or repair of
Ultrasonography/ Imaging machines in Delhi are to be
registered with State
stated above. The scheme also contemplated buyback of shares from those who are willing. The first respondent did not make any endeavour to express ... willingness. It is to be noted that no offer of buyback was given. The first respondent sought an advice on buyback. Thereafter, the first respondent
that there is no provision for
interest in the buyback agreement Ex. CW-1/3 much less of 3% compound
CRL.A. 442/2017 Page ... back
the shares and repay the amount in terms of the buyback agreement along
with the 3% quarterly compound interest. Cheque amount in dispute
from the date of purchase. Vide letter dated 07.06.2012, he was offered buyback of the unit, after three years of purchase ... complaint is not maintainable. Further, by agreeing to sell the unit, through buyback policy, the complainant ceases to be a consumer. It shows that
distributed amount. This implies that the proposal of buyback
was a scheme devised for tax avoidance and was a colorable
device for avoiding dividend ... Section 115O of the Act.
The assessee has resorted dubious method of buyback fo shares to
avoid dividend tax. Thus the transaction is a colorable
capital gains from sale of property as well as on
account of buyback of unlisted equity shares during the year. The same has duly
reflected ... Detail of purchase of unlisted equity
shares in the past and buyback of shares in the subject year by company is
enclosed. Also returns filed
directors Shri Kashyap Vora offered 12,19,075
shares under the buyback scheme and accordingly the assessee bought
those shares paid a consideration ... instant case, the assessee has
purchased the shares under the buyback scheme and the said shares have
been extinguished by writing down the share capital
said date. Vide letter dated 18.08.2012 Annexure C-5, he was offered buyback scheme with commitment that the opposite parties will buyback the said unit ... against price of Rs.22.10 lacs. It was further said that buyback offer is only available to those, who have paid the full sale
