Buy-back framework reforms expand company flexibility, remove affidavit verification, and replace fines with differentiated penalties. Amendments to section 68 of the Companies Act, 2013 revise the buy-back framework for prescribed classes of companies by adjusting the buy-back cap, permitting up to two buy-back offers within one year subject to a six-month gap, and extending the provision to schemes linked to the value of share capital under section 62(1)(b). The amendment also removes the affidavit-verification requirement, aligns related explanatory provisions, and replaces fine-based consequences with a penalty regime that differentiates between listed companies and other companies.