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        Companies Law

        Section 70 - Prohibition for buy-back in certain circumstances

        Companies Act, 2013
        Chapter IV
        SHARE CAPITAL AND DEBENTURES

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        Company buy-backs prohibited when conducted through subsidiaries or investment firms or where specified financial defaults exist. Bars companies from directly or indirectly purchasing their own shares or specified securities where acquisitions occur through subsidiaries or investment companies, or where the company has defaulted on repayment of deposits, interest, redemption of debentures or preference shares, dividend payments, or repayment of term loans or interest to financial institutions; a buy-back is permitted after the default is remedied and a prescribed lapse of time.
                    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.

                        Company buy-backs prohibited when conducted through subsidiaries or investment firms or where specified financial defaults exist.

                        Bars companies from directly or indirectly purchasing their own shares or specified securities where acquisitions occur through subsidiaries or investment companies, or where the company has defaulted on repayment of deposits, interest, redemption of debentures or preference shares, dividend payments, or repayment of term loans or interest to financial institutions; a buy-back is permitted after the default is remedied and a prescribed lapse of time.


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