Buyback of shares (shares not listed on any stock exch.)

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Vivek Viswanath (Querist)
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19 April 2019 Hi,

When is the buy back of shares considered as completed/ concluded?
To be more specific, what step, when performed, concludes the buyback of shares?
Eg: is it when the consideration is received, is it when the share certificates are destroyed, is it when the share certificates are received back by the company from the shareholder or any other scenario which can conclusively state that buyback is completed.

Amol S Joglekar

Amol S Joglekar (Expert)
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19 April 2019 After satisfying the conditions set out in section 68 of the Companies Act 2013, the company may proceed on the buy back its own shares.
The buy back is said to be completed when the shares are received by the company + full value of consideration is paid by the company to the respective share holders.