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S&P
BSE SENSEX
73,730.16
-609.28
-0.82 %
Corporate Announcement
Security Code
501455
Company
Greaves Cotton Ltd
Exchange Received Time
16/07/2019 17:49:16
Exchange Disseminated Time
16/07/2019 17:49:22
Time Taken
00:00:06
Corporate Action-Intimation of Buy back |
7/16/2019 5:49:17 PM
This is in furtherance to our intimation June 27, 2019, wherein we had submitted a copy of the Public Announcement dated June 26, 2019 pertaining to the Buyback.
The Company has received interim observations from SEBI in regard to the draft letter of offer filed by the Company on July 4, 2019 and is in the process of addressing them.
In light of the proposal to introduce a tax on distributed income by listed companies undertaking buyback of shares, vide the Finance (No. 2) Bill 2019 (introduced in Parliament on July 5, 2019), it is hereby submitted that the Company has filed before the Ministry of Finance and SEBI seeking clarifications and certain relaxations with respect to the Buyback.
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