The company shall distinguish and physically destroy the security certificate show brought back in the presence of a registrar to issue a merchant banker and
Answers
xifflov qefdkv bdfkjr nlpkjvcs gsjwqty ksgsiic zyfztgi euurdv vci hfkdjp hxkord atgdj lojbshid nidfjei x hgxjchh
Answer:
The company shall extinguish & physically destroy the security certificates that are bought back in presence of Registrar or the Merchant Banker and the Statutory Auditor.
Explanation:
The SEBI (Securities Exchange Board of India), which is the securities market regulator issued the amendment, 2004 as a substitute in regulation 12, (a) for sub regulation 1 along with "to issue within 15 days of date of acceptance of shares or other securities". This amendment includes that the companies should ensure that the securities that are brought - back are blown out within 7 days of buy-back. SEBI acts as a medium to protect the investor's interest in securities, promote their growth and handle the securities market.