SKP Securities mulls cancellation, postponement of proposed buyback

Last week, Greaves Cotton made a similar announcement informing investors that it had written to the Finance Ministry seeking clarification on the buyback tax introduced in the Budget

SKP Securities on Tuesday said it has written to the Finance Ministry and market regulator Sebi seeking clarity on whether it can postpone or cancel its proposed buyback due to the applicability of the buyback tax. “The company has made an application with Sebi informing them about the representation filed before the Ministry of Finance and seeking clarification amongst others, on the applicability of buyback tax on the company and can the buyback be postponed or cancelled in the view of buyback tax announcement made subsequent to the commencement of buyback period, without being non-compliant of Sebi Buyback Regulations,” the