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Buy back- urgent

This query is : Resolved 
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(Querist)
07 April 2011
Can a closely held comapny buy back shares from only one shareholder??? or is it necssary to buy back from all shareholders on proportionate basis???

The situation is one shareholder is to be removed...and as its a family business, others dont have net worth to buy his shares which is around Rs. 20 crores....cn co buy bck dem???

thnx
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Jayashree S Iyer

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Jayashree S Iyer (Expert)
07 April 2011 It is not possible to make buy back offer to only one shareholder. Buy back offer should be made to all the shareholders.

Since it's a closely held company, you can make the offer to all and others may decide not to offer shares for buy back.

Other experts, any other way it can be effected?
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