Payment to security-holders

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... ogether with 2[ninety per cent. of] the amount lying in the escrow account make-up the entire sum due and payable as consideration for buy-back in terms of these regulations and for this purpose, may transfer the funds from the escrow account. 3[(2) The company shall complete the verifications of offers received and make payment of consideration to those security holders whose offer has been acce .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... ed regulation 9 above, the words 'security holders' where ever occurring were substituted by the SEBI (Buy-back of Securities) (Amendment) Regulations, 1999 w.e.f. 21-09-1999 for the words 'shareholders', the words 'shares or other specified securities' were substituted by the SEBI (Buy-back of Securities) (Amendment) Regulations, 2004 w.e.f. 18-06-2004 for the words "specified securities", whic .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X