Buy-back compliance requirements: mandatory disclosures, solvency declaration, auditor verification and strict filing and payment timelines. Buy-back by private and unlisted public companies requires detailed disclosures in the explanatory statement, board confirmation that the company will remain able to meet liabilities for one year, and an auditor's report on permissible capital payment and recency of accounts. Companies must file a dated board signed letter of offer (Form SH.8) and a declaration of solvency (Form SH.9) with the Registrar, dispatch the offer within twenty days, keep the offer open for the prescribed period, complete verification and payments within mandated timelines, maintain a register of bought back securities (Form SH.10), and file a return (Form SH.11) with director certifications.
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Buy-back compliance requirements: mandatory disclosures, solvency declaration, auditor verification and strict filing and payment timelines.
Buy-back by private and unlisted public companies requires detailed disclosures in the explanatory statement, board confirmation that the company will remain able to meet liabilities for one year, and an auditor's report on permissible capital payment and recency of accounts. Companies must file a dated board signed letter of offer (Form SH.8) and a declaration of solvency (Form SH.9) with the Registrar, dispatch the offer within twenty days, keep the offer open for the prescribed period, complete verification and payments within mandated timelines, maintain a register of bought back securities (Form SH.10), and file a return (Form SH.11) with director certifications.
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