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        Companies Law

        Section 77B - Prohibition for buy-back in certain circumstances.

        Companies Act, 1956
        Chapter III
        PROSPECTUS AND ALLOTMENT, AND OTHER MATTERS RELATING TO ISSUE OF SHARES OR DEBENTURES

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        Buy-back prohibition: companies barred from repurchasing own shares via subsidiaries or investment firms amid specified payment defaults. Companies are prohibited from directly or indirectly purchasing their own shares or other specified securities through subsidiaries or investment companies, and while specified payment defaults-such as unpaid deposits, debenture or preference-share redemptions, dividends, or term-loan obligations-are subsisting. Prior statutory compliance with related provisions is a prerequisite to effecting any buy-back.
                          Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
                          Provisions expressly mentioned in the judgment/order text.

                              Buy-back prohibition: companies barred from repurchasing own shares via subsidiaries or investment firms amid specified payment defaults.

                              Companies are prohibited from directly or indirectly purchasing their own shares or other specified securities through subsidiaries or investment companies, and while specified payment defaults-such as unpaid deposits, debenture or preference-share redemptions, dividends, or term-loan obligations-are subsisting. Prior statutory compliance with related provisions is a prerequisite to effecting any buy-back.


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