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Sasken files appeal with appellate tribunal for buyback

Sasken files appeal with appellate tribunal for buyback
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First Published: Tue, Aug 26 2008. 10 07 AM IST
Updated: Tue, Aug 26 2008. 10 07 AM IST
Reuters
Mumbai: Telecoms software firm Sasken Communication Technologies Ltd has filed an appeal before the Securities Appellate Tribunal (SAT) to proceed with its proposed buyback of shares.
“Markets regulator Securities and Exchange Board of India (Sebi) had imposed certain conditions and directives in the implementation of its buy back,” it said.
The company in its appeal has said that it should be allowed to proceed with the buyback scheme with the same conditions as set out in its original announcement.
Sasken had announced its share buyback via a public announcement on 18 April, and then subsequently on 2 May postponed it, pending approval from Sebi.
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First Published: Tue, Aug 26 2008. 10 07 AM IST
More Topics: Sasken | Communication | SEBI | Shares | Tribunal |