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Prohibition for buy-back in certain circumstances

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Full Text of the Document

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....es 70. (1) No company shall directly or indirectly purchase its own shares or other specified securities- (a) through any subsidiary company including its own subsidiary companies; ....

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Full Text of the Document

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....ncial institution or banking company: Provided that the buy-back is not prohibited, if the default is remedied and a period of three years has lapsed after such default ceased to subsist. ....

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