Relaxation in Regulation 24(i)(f) of the SEBI Buy-back of Securities Regulations, 2018 due to the COVID 19 pandemic
Summary
SEBI temporarily relaxes the restriction on raising further capital for companies that have completed a buy-back. The mandatory waiting period is reduced from one year to six months due to the COVID-19 pandemic. This relaxation applies until December 31, 2020.
Text
Accordingly the words “one year” shall be read as “six months” in the said regulation.
This relaxation will be applicable till December 31, 2020.
This circular shall come into force with immediate effect. The stock exchanges are advised to bring the provisions of this circular to the notice of all the stakeholders including the listed entities and also disseminate on their websites.
Source: SecMarx — Relaxation in Regulation 24(i)(f) of the SEBI Buy-back of Securities Regulations, 2018 due to the COVID 19 pandemic. Verbatim text is public record; SecMarx structuring (linkage to applying orders) is cited to us.