Sebi to assess buyback provisions

Securities and Exchange Board of India (Sebi) today started assessing the legal provisions of buybacks in the wake of Anil Ambani's comments before the Reliance board meeting.

Sebi chairman G N Bajpai and director Anantharamnan are believed to have started discussions on it within minutes of Anil Ambani's statement that "there is more than that meets the eye," in relation to the buyback proposal.

Senior Sebi officials said there was enough scope to look into the entire issue. BSE officials, however, declined to comment on the issue.