Sir, in case of buy back of Securities through stock exchange the co. Will receive Securities in demat form, then what is the need of the provision that the Securities so bought back are to be physically Destroyed?
Regulation 11 (ii) of SEBI (Buy-Back of Securities) Regulations, 2018 provides that, "The shares or other specified securities offered for buy-back if already dematerialized shall be extinguished and destroyed in the manner specified under the Securities and Exchange Board of India (Depositories and Participants) Regulations, 1996, and the bye-laws, the circulars and guidelines framed thereunder". This provision will be applicable for Securities in demat form.
by Shubhamm Sir
at 14-Apr-2023 05:56 PM