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of <h1>Companies Act Section 68: Rules for Share Buy-Backs, Including Limits, Authorizations, and Compliance Requirements.</h1> Section 68 of the Companies Act, 2013, allows a company to buy back its own shares or specified securities using free reserves, securities premium account, or proceeds from new issues, excluding similar previous issues. The buy-back must be authorized by the company's articles and a special resolution, except when it is 10% or less of the paid-up equity capital and free reserves, authorized by the Board. The buy-back should not exceed 25% of the paid-up capital and free reserves, and the debt ratio must not exceed twice the paid-up capital and free reserves. Specific conditions apply, including filing a declaration of solvency, extinguishing bought-back securities, and maintaining a register. Non-compliance results in fines.
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