 "Sebi")
The Securities and Exchange Board of India (Sebi), at its board meeting on December 20, may clear proposals for revamping the buyback process, giving fillip to disclosure norms, and strengthening governance at market infrastructure institutions, said people in the know.
The new framework proposes to cut the time taken for completion of buybacks, enhance the amount companies can repurchase vis-a-vis their free reserves and reduce the cooling-off period between two buybacks.
Sebi’s proposal includes phasing out open-market share buybacks through stock exchanges and removing the maximum limit of 15 per cent of the paid-up capital, with effect from April 1,
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