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TMI BlogDisclosures to be made in the letter of offerX X X X Extracts X X X X X X X X Extracts X X X X ..... n the following:-- (i) Details of the offer including the total number and percentage of the total paid up capital and free reserves proposed to be bought-back and price; (ii) The proposed time table from opening of the offer till the extinguishment of the certificates; (iii) Authority for the offer of buy-back; (iv) A full and complete disclosure of all material facts including the conten ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... l Government]; (x) Present capital structure (including the number of fully paid and partly paid securities) and shareholding pattern; (xi) The capital structure including details of outstanding convertible instruments, if any, post buy-back; (xii) The aggregate shareholding of the promoter group and of the directors of the promoters, where the promoter is a company and of the persons who ar ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... re no defaults subsisting in repayment of deposit, redemption of debentures or preference shares or repayment of a term loans to any financial institutions or banks; (2) A declaration to be signed by at least two whole time directors, one of whom shall be the managing director stating that the Board of Directors has made a full enquiry into the affairs and prospectus of the company and that they ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t a report addressed to the directors by the company's auditors stating that-- (1) they have inquired into the company's state of affairs, and (2) the amount of permissible capital payment for the securities in question is in their view properly determined; and (3) they are not aware of anything to indicate that the opinion expressed by the directors in the declaration as to any of the matters ..... X X X X Extracts X X X X X X X X Extracts X X X X
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