21 June 2011
Firstly Privet Company is not listed in recognized stock exchange and if he want to issue share in capital market he must be convert himself into public company which is limited by either share or guaranty. Now in pvt company case SEBI ACT -1992 AND COMPANYS ACT – 1956 and all appropriate issuing and buyback rules and regulation is not applicable. In Pvt Company share is issued on the privet placement bases Buy back of share is depend upon the by- laws of AOA of company. But buy back decision must be passing through special resolution and intimation given within given time to local authority.
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