Prohibition for buy-back in certain circumstances

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....company shall directly or indirectly purchase its own shares or other specified securities- (a) through any subsidiary company including its own subsidiary companies; (b) through any investment co....

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.... 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. (2) No company shall, directly or indirectly, p....