Section and Name Section 77A(9)
REGISTER OF BUY-BACK OF SECURITIES
Requirements and Format "The register should contain
information relating to the date of Board or special resolution authorizing
buy-back; quantum authorized to be bought back; date of completion of buy-back;
description of securities bought back and, in respect of each folio
number/client ID number or certificate number of securities bought back, the
date of buy-back;
number of securities bought back; category
to which they belong (preference/ equity/ employees’ stock option/ sweat
equity, etc.); name of last holder of securities; reference to entry in the
register of members; mode of buy-back; nominal value of securities and
consideration paid for buy-back; date of payment; date of cancellation of
securities bought back; date of extinguishment and physical destruction of
securities bought back."
A separate register should be maintained
for each buy-back undertaken by the company.
"Entries in the register should be
made in chronological order. Entries in the register should be made forthwith
at every stage such as completion of buy-back, cancellation and extinguishment
of securities."
Where to Kept The register should be maintained at the registered office of the
company.
Inspection The
register is not open for inspection.
Authentication Entries in the register should be authenticated by the secretary of
the company or by any other person authorized by the Board for the purpose, by
appending his signature to each entry.
Preservation The register should be preserved for a minimum period of 8
years from the date of completion of buyback and should be kept in the custody
of the secretary of the company or any other person authorized by the Board for
the purpose.
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