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??
2 Replies
Ajinkya Kurdukar
(Lawyer)
(44 Points)
Replied 25 January 2012
No. this cannot be done unless its is done proportionately.
CS Smriti Sharma
(ACS, B Samrish & Co.)
(880 Points)
Replied 25 January 2012
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.
Attached File : 614127 915889 mca circular on buy back.pdf downloaded: 226 times
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