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of <h1>Section 67: Limits on Share Buybacks and Financial Assistance by Companies with Exceptions for Employee Schemes and Banking.</h1> Section 67 of the Companies Act, 2013, restricts companies limited by shares or guarantee from purchasing their own shares unless it results in a reduction of share capital as per the Act's provisions. Public companies are prohibited from providing financial assistance for the purchase of their or their holding company's shares, except in specific circumstances such as banking operations, employee benefit schemes approved by special resolution, and loans to employees (excluding directors or key managerial personnel) not exceeding six months' salary. Violations result in fines and potential imprisonment for responsible officers. The section does not affect a company's right to redeem preference shares.
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