Sasken Communication moves SAT on buyback

Sasken Communication Technologies, a telecom software services provider, has filed an appeal before the Securities Appellate Tribunal (SAT) seeking permission for its proposed buyback of shares.

The company was planning to buyback Rs 40 crore shares, however, is yet to receive approval from the market regulator Securities and Exchange Board of India (SEBI).

The Bangalore-based company has sought SAT interference seeking permission to proceed with the proposed buyback scheme and under the same conditions as announced on April 18, 2008, Sasken Communication informed the BSE today.