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of <h1>Rule 17: Steps for Private and Unlisted Public Companies on Share Buy-Backs, Disclosures, and Compliance Requirements</h1> Rule 17 of the Companies (Share Capital and Debentures) Rules, 2014, outlines the procedures for private and unlisted public companies to buy back shares or securities. Key requirements include detailed disclosures in the explanatory statement for the general meeting, confirmation of no existing defaults, and a report from auditors on the company's financial state. Companies must file a letter of offer and declaration of solvency with the Registrar, ensure the buy-back offer is open for 15-30 days, and proportionately accept offers exceeding the buy-back limit. Companies must maintain a register of bought-back shares and file a compliance return post buy-back.
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