Payment to security-holders

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..... um as would, together with 2 [ninety per cent. of] the amount lying in the escrow account make-up the entire sum due and payable as consideration for buy-back in terms of these regulations and for this purpose, may transfer the funds from the escrow account. 3 [(2) The company shall complete the verifications of offers received and make payment of consideration to those security holders w .....

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..... the security holders. In the substituted regulation 9 above, the words security holders where ever occurring were substituted by the SEBI (Buy-back of Securities) (Amendment) Regulations, 1999 w.e.f. 21-09-1999 for the words shareholders , the words shares or other specified securities were substituted by the SEBI (Buy-back of Securities) (Amendment) Regulations, 2004 w.e.f. 18-06-20 .....

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