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Thursday, Jul 04, 2002

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SEBI panel findings on buyback by month-end

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MUMBAI, July 3

THE Securities and Exchange Board of India (SEBI) committee to study the issue of buyback and delisting of shares is expected to submit its findings by the end of the month.

Mr Pratip Kar, Executive Director, SEBI, said that the existing schemes of shares buyback and delisting were agitating the minds of the investors.

He was speaking at a meeting on `Buyback and delisting' organised jointly by the Indian Merchants' Chamber and Investors' Grievances Forum here.

According to Mr Kar, it was felt that shares' delisting from stock exchanges deprived a non-promoter shareholder to sell his shares at market prices, but left him entirely at the mercy of corporate managements, which most often do not pay a fair price for the shares bought back.

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