One of the leading IT services listed company is planning to consider the buyback of its shares in the ensuing Board meeting. The management does not want to disclose the event to the stock exchange prior to the Board me

Regulation 29(1) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 provides that the listed entity shall give prior intimation of at least two working days in advance, excluding the date of the intimation and date of the meeting, to stock exchange about the meeting of the board of directors in which any of the following proposals is due to be considered: a) financial results viz. quarterly, half yearly, or annual, as the case may be; b) proposal for buyback of securities; c) proposal for voluntary delisting by the listed entity from the stock exchange(s); d) fund raising by way of issue of securities (excluding security receipts, securitized debt instruments or money market instruments regulated by the Reserve Bank of India), through further public offer, rights issue, American Depository Receipts/Global Depository Receipts/ Foreign Currency Convertible Bonds, qualified institutions placement, debt issue, preferential issue or any other method and for determination of issue price: Provided that intimation shall also be given in case of any annual general meeting or extraordinary general meeting or postal ballot that is proposed to be held for obtaining shareholder approval for further fund raising indicating type of issuance. Provided further that intimation for determination of issue price in a qualified institutions placement is not required if such placement is not done in accordance with the provisions of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018. e) declaration/ recommendation of dividend, issue of convertible securities. including convertible debentures or of debentures carrying a right to subscribe to equity shares or the passing over of dividend; f) the proposal for declaration of bonus securities; g) any alteration in the form or nature of any of its securities that are listed on the stock exchange or in the rights or privileges of the holders thereof; h) any alteration in the date on which, the interest on debentures or bonds, or the redemption amount of redeemable shares or of debentures or bonds, shall be payable. Further, Regulation 29 (2) provides that the intimation required under sub-regulation (1) shall mention the date of such meeting of board of directors.