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TCS announces Rs 16,000 crore share buy back plan
Mumbai : Software major Tata Consultancy Services (TCS) said on Monday it will buy back up to 5.61 crore equity shares for Rs 16,000 crore.
According to TCS, the equity share buy back decision was taken by its Board of Directors at a meeting held on February 20.
“The ‘Buyback Size’ being 2.85 per cent of the total paid up equity share capital, at Rs 2,850 per equity share,” the company informed the BSE in a regulatory filing.
“The buyback is proposed to be made from the shareholders of the company on a proportionate basis under the tender offer route using the stock exchange mechanism in accordance with the provisions contained in the SEBI Regulations, 1998 and the Companies Act, 2013 and rules made thereunder,” the filing elaborated.
The pre-buyback shareholding pattern as on February 17, 2017 showed that the Tata Group owned 73.31 per cent in the software major.
The company’s scrip price on the BSE gained 4.06 per cent or Rs 97.85 per share to Rs 2,506 per equity share from its previous close of Rs 2,408.15.
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What monkey fled with a bag containing evidence in it: Read full story
The court, generally, considers a person who commit a crime and the one who destroys the evidence, as criminals in the eyes of law. But what if an animal destroys the evidence of a crime committed by a human.
In a peculiar incident in Rajasthan, a monkey fled away with the evidence collected by the police in a murder case. The stolen evidence included the murder weapon (a blood-stained knife).
The incident came to light when the police appeared before the court and they had to provide the evidence in the hearing.
The hearing was about the crime which took place in September 2016, in which a person named Shashikant Sharma died at a primary health center under Chandwaji police station. After the body was found, the deceased’s relatives blocked the Jaipur-Delhi highway, demanding an inquiry into the matter.
Following the investigation, the police had arrested Rahul Kandera and Mohanlal Kandera, residents of Chandwaji in relation to the murder. But, when the time came to produce the evidence related to the case, it was found that the police had no evidence with them because a monkey had stolen it from them.
In the court, the police said that the knife, which was the primary evidence, was also taken by the monkey. The cops informed that the evidence of the case was kept in a bag, which was being taken to the court.
The evidence bag contained the knife and 15 other important evidences. However, due to the lack of space in the malkhana, a bag full of evidence was kept under a tree, which led to the incident.