Buy-back of shares or other securities

1. Search Case laws by Section / Act / Rule — now available beyond Income Tax. GST and Other Laws Available

2. New: “In Favour Of” filter added in Case Laws.

Try both these filters in Case Laws →

Buy-back of shares or other securities

X X X X Extracts X X X X

....lass of shares or other securities intended to be purchased under the buy-back; (d) the number of securities that the company proposes to buy-back; (e) the method to be adopted for the buy-back; (f) the price at which the buy-back of shares or other securities shall be made; (g) the basis of arriving at the buy-back price; (h) the maximum amount to be paid for the buy-back and the sources of funds from which the buy-back would be financed; (i) the time-limit for the completion of buy-back; (j) (i) the aggregate shareholding of the promoters and of the directors of the promoter, where the promoter is a company and of the directors and key managerial personnel as on the date of th....

X X X X Extracts X X X X

....he general meeting is convened there shall be no grounds on which the company could be found unable to pay its debts; (ii) as regards its prospects for the year immediately following that date, that, having regard to their intentions with respect to the management of the company's business during that year and to the amount and character of the financial resources which will in their view be available to the company during that year, the company shall be able to meet its liabilities as and when they fall due and shall not be rendered insolvent within a period of one year from that date; and (iii) the directors have taken into account the liabilities(including prospective and contingent liabilities), as if the company were ....

X X X X Extracts X X X X

....ere is one. (3) The company shall file with the Registrar, along with the letter of offer, and in case of a listed company with the Registrar and the Securities and Exchange Board, a declaration of solvency in Form No. SH.9 along with the fee and signed by at least two directors of the company, one of whom shall be the managing director, if any, and verified by an affidavit as specified in the said Form. (4) The letter of offer shall be dispatched to the shareholders or security holders immediately after filing the same with the Registrar of Companies but not later than twenty days from its filing with the Registrar of Companies. (5) The offer for buy-back shall remain open for a period of not less than fifteen days and not exceedi....

X X X X Extracts X X X X

.... (10) The company shall ensure that- (a) the letter of offer shall contain true, factual and material information and shall not contain any misleading information and must state that the directors of the company accept the responsibility for the information contained in such document; (b) the company shall not issue any new shares including by way of bonus shares from the date of passing of special resolution authorizing the buy-back till the date of the closure of the offer under these rules, except those arising out of any outstanding convertible instruments; (c) the company shall confirm in its offer the opening of a separate bank account adequately funded for this purpose and to pay the consideration only by ....

Contact Us At :

FAQs :

Most Asked Video Tutorials :

Submit Feedback/Suggestion :

Buy-back of shares or other securities