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of <h1>New Rules for Securities Buy-Back: Share Certificates Must Be Destroyed and Certified Within 7 Days Under Companies Law.</h1> Under the Companies Law, the rules for buy-back of securities by Private Limited Companies and Unlisted Public Limited Companies require that share certificates bought back must be extinguished and physically destroyed in the presence of a Company Secretary within seven days of acceptance. The company must then provide a certificate to the Registrar of Companies, verified by two whole-time directors, including the Managing Director, and a Company Secretary, confirming compliance within seven days of destruction. Additionally, the company must maintain a record of the cancelled and destroyed share certificates within the same timeframe.
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