The darker side of buy-backs

SEBI has apparently awakened to the darker side of buy-backs and is now going to make the requirement of disclosing a minimum number of shares to be bought-back, mandatory. This is in order to curb the practice of hollow or cosmetic buy-backs. We however feel that this requirement is already part of the Regulations in the form of Schedules which are standard formats of the Letter of Offer and the Public Announcement.