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SEBI’s circular permitting co. to buy-back shares for providing exist opportunity to shareholder is valid: HC

August 23, 2019[2019] 108 359 (Delhi)

Company Law : Where circular dated 25-7-2017 was issued by SEBI vide which SEBI permitted a company to buy-back shares so as to provide an exit to public shareholders, impugned circular dated 25-7-2017 was in accordance with law and prayer made in writ petition, challenging Postal Ballot and notice and PA of respondent no. 2 company by petitioners who were minority shareholders would not be maintainable as their issuance is purely an action of company incorporated under Companies Act

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