Buyback Agreement Template for India

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Key Requirements PROMPT example:

Buyback Agreement

"I need a Buyback Agreement for my listed technology company to repurchase up to 10% of its shares through the tender offer route, with completion targeted for March 2025, including specific provisions for foreign institutional investors."

Document background

A Buyback Agreement is a crucial document used when a company decides to repurchase its own shares from existing shareholders. In India, this process is strictly regulated under the Companies Act, 2013 and SEBI regulations for listed companies. The agreement is typically used when companies have excess cash reserves, want to improve financial ratios, or aim to enhance shareholder value. The document captures essential details including buyback price, quantity, method of buyback (tender offer/open market), timeline, and compliance requirements. It becomes particularly important as share buybacks have tax implications and require various regulatory approvals. The agreement serves as a comprehensive record of the transaction and ensures protection of both the company's and shareholders' interests while maintaining compliance with Indian regulatory framework.

Suggested Sections

1. Parties: Identification of the company conducting the buyback and the selling shareholders

2. Background: Context of the buyback, including company details, share capital structure, and reason for buyback

3. Definitions: Definitions of key terms used throughout the agreement

4. Buyback Terms: Core terms including number of shares, price per share, and payment mechanism

5. Conditions Precedent: Conditions that must be satisfied before the buyback can proceed

6. Representations and Warranties: Statements of fact and assurances from both parties

7. Regulatory Compliance: Compliance with Companies Act, SEBI regulations, and other applicable laws

8. Process and Timeline: Detailed procedure and schedule for executing the buyback

9. Payment Terms: Details of payment mechanism, timing, and any escrow arrangements

10. Tax Provisions: Treatment of taxes and responsibilities of each party

11. Governing Law and Jurisdiction: Specification of Indian law as governing law and jurisdiction for disputes

12. Notices: Process and addresses for serving notices under the agreement

Optional Sections

1. Foreign Exchange Compliance: Required when foreign shareholders are involved, detailing FEMA compliance

2. Escrow Arrangement: Needed for listed companies or when payment security is required

3. Stock Exchange Notifications: Required for listed companies, detailing disclosure requirements

4. Employee Shareholder Provisions: Specific provisions when buyback includes shares held by employees

5. Electronic Transfer Provisions: Specific provisions for shares held in dematerialized form

6. Termination Rights: Optional provisions for early termination of the agreement

7. Force Majeure: Provisions dealing with unforeseen circumstances preventing completion

Suggested Schedules

1. Share Details: Details of shares being bought back, including share certificates or demat account information

2. Corporate Authorizations: Board resolutions, shareholder approvals, and other corporate authorizations

3. Pricing Calculation: Detailed calculation of buyback price in accordance with regulations

4. Timeline and Process Flow: Detailed schedule of events and procedures

5. Form of Transfer Deed: Template for share transfer documentation

6. Compliance Certificates: Required statutory certificates and declarations

7. KYC Documents: List of required KYC documents and forms

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co

Relevant legal definitions

Clauses

Relevant Industries

Financial Services

Information Technology

Manufacturing

Pharmaceuticals

Real Estate

Infrastructure

Retail

Energy

Telecommunications

Professional Services

Consumer Goods

Healthcare

Relevant Teams

Legal

Finance

Corporate Secretarial

Compliance

Treasury

Investor Relations

Risk Management

Corporate Development

Board Secretariat

Regulatory Affairs

Relevant Roles

Chief Executive Officer

Chief Financial Officer

Company Secretary

Legal Counsel

Finance Director

Corporate Finance Manager

Compliance Officer

Investment Relations Manager

Treasury Manager

Board Director

Financial Controller

Corporate Development Manager

Risk Manager

Regulatory Affairs Manager

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Let's create your Buyback Agreement

Authors

Alex Denne

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