0 Deepanshi batuAdvanced Asked: November 18, 20212021-11-18T10:19:23+05:30 2021-11-18T10:19:23+05:30In: Revisionary Podcast (CA Inter) Buy back of shares 0 Ques 5 (a) i? Share Sorry, you do not have permission to answer to this question. 2 Answers Oldest Jinesh Sankhala Asst. Mod. Asst. Moderator 2021-11-19T10:47:12+05:30Added an answer on November 19, 2021 at 10:47 am According to Sec 68, a company cannot buy back more than 25% of its existing equity share capital. Hence the proposal to buy back 30%, is not valid. A Special Resolution is required to be passed for buy back, hence in such a case, the proposal is still invalid. Deepanshi batu Advanced 2021-11-20T22:46:10+05:30Replied to answer on November 20, 2021 at 10:46 pm Okay thanks
According to Sec 68, a company cannot buy back more than 25% of its existing equity share capital.
Hence the proposal to buy back 30%, is not valid.
A Special Resolution is required to be passed for buy back, hence in such a case, the proposal is still invalid.
Okay thanks