hi all
while proceeding with buy back of shares in a closely held co. can v buy back all shares of a few members only instead of doing tht proportionately??
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Buy back in closely held co
Replies (2)
No. this cannot be done unless its is done proportionately.
Dear Iti
A company may buy-back its shares by either of the following methods :-
(a) From the existing shareholders on a proportionate basis through private offers;
(b) By purchasing the securities issued to employees of the company pursuant to a scheme of stock option or sweat equity.
Therefore you can't buy back shares on selective basis
Company (Buy-Back of Securities) Rules, 1999 are attached herewith for your kind perusal.
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