TaxTMI 
TaxTMI 
Conditions and requirements for buy-back of shares and specified securities
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....equity share capital of the company in that financial year.] 2[(ii) The ratio of the aggregate of secured and unsecured debts owed by the company to the paid-up capital and free reserves after buy-back shall,-: a) be less than or equal to 2:1, based on 6[the standalone or consolidated financial statements of the company, whichever 9[is lower]]: Provided that if a higher ratio of the debt to capital and free reserves for the company has been notified under the Companies Act, 2013, the same shall prevail; or b) be less than or equal to 2:1, based on 6[the standalone or consolidated financial statements of the company, whichever 10[is lower]], after excluding financial statements of all subsidiaries that are non-banking financial compan....
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....reserves of the company till March 31, 2025: Provided further that buy-back from the open market through the stock exchange shall not be allowed with effect from April 1, 2025.]] (v) A company shall not buy-back its shares or other specified securities so as to delist its shares or other specified securities from the stock exchange. (vi) A company shall not buy-back its shares or other specified securities from any person through negotiated deals, whether on or off the stock exchange or through spot transactions or through any private arrangement. (vii) A company shall not make any offer of buy-back within a period of one year reckoned from the date of expiry of buyback period of the preceding offer of buy-back, if any. (viii) A compa....
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....the aggregate of secured and unsecured debts owed by the company after buy-back shall not be more than twice the paid-up capital and free reserves. Provided that if a higher ratio of the debt to capital and free reserves for the company has been notified under the Companies Act, 2013, the same shall prevail." 3. Substituted vide NOTIFICATION No. SEBI/LAD-NRD/GN/2019/33 dated 19-09-2019 before it was read as "Provided that no offer of buy-back for fifteen per cent or more of the paid up capital and free reserves of the company shall be made from the open market." 4. Substituted vide Notification No. SEBI/LAD-NRO/GN/2023/120 dated 07-02-2023 w.e.f. thirtieth day from the date of their publication in the Official Gazette ....