Sterlite Asked Not To Extinguish Shares

The Bombay High Court today barred Sterlite Industries from extinguishing the shares under its buyback programme till the next hearing on June 27. The court, however, did not grant a stay on the open offer programme, as sought by the Securities and Exchange Board of India (Sebi). The offer closes tomorrow.

The next hearing is scheduled for June 27, when Sterlite will be given a chance to defend itself against the charges made by Sebi with regard to the latter