TMI BlogSecurities and Exchange Board of India (Buy-Back of Securities) (Second Amendment) Regulations, 2019X X X X Extracts X X X X X X X X Extracts X X X X ..... CURITIES) (SECOND AMENDMENT) REGULATIONS, 2019 No. SEBI/LAD-NRD/GN/2019/33 .-In exercise of the powers conferred by sub-sections (1) and (2) of section 11 and section 30 of the Securities and Exchange Board of India Act, 1992 (15 of 1992) read with clause (f) of sub-section (2) of section 68 of the Companies Act, 2013 , the Board hereby makes the following regulations to furthe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ng sub-regulation, namely,-: (ii) The ratio of the aggregate of secured and unsecured debts owed by the company to the paid-up capital and free reserves after buy-back shall,-: a) be less than or equal to 2:1, based on both standalone and consolidated financial statements of the company: Provided that if a higher ratio of the debt to capital and free reserves for the co ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Provided that the buyback from open market shall be less than fifteen per cent of the paid up capital and free reserves of the company, based on both standalone and consolidated financial statements of the company. II. In regulation 5 , in sub-regulation (i), in clause (b), in the proviso, after the word company and before the symbol ; , the words and symbol , based on both ..... X X X X Extracts X X X X X X X X Extracts X X X X
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