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SEBI: Response to consultation paper on buyback of shares
SEBI: Response to consultation paper on buyback of shares

December 12, 2022

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Securities and Exchange Board of India (SEBI) had called for stakeholders’ inputs on review of regulations governing buyback of shares under SEBI (Buyback of Securities) Regulations, 2018.

In this regard, we provided our feedback to SEBI. As part of our suggestions, we have requested SEBI to continue providing the option of buyback from open market rather than completely phasing it out, allow companies to increase the aggregate size of buy-back provided it remains within the limits prescribed under Companies Act, 2013 and SEBI Regulations and subject to approval of shareholders. Further, we have also highlighted that the Company should not be required to distribute buyback consideration to the exiting/ tendering shareholders including promoters, net of buyback tax payable by the Company under section 115QA of Income Tax Act, 1961.

Our detailed submission to SEBI is attached.

For more information, kindly write to tejasvi@nasscom.in 


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20221205-buybackregulations-nasscomsubm.pdf

Tejasvi

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