Dear Sir,
Company 'A" is a private limited company registered unde companies act 1956.
"A" wants to buyback its own shares already alloted to shareholders Xx, Xy, X z,
Paid up capitals are
XA- 2000 Share of 10/- each
XB-2000 Shares of 10/- each
XC-3000 Shares of 10/- each
Xx- 5000 share of 10/- each
Xy- 6000 Share of 10/- each
Xz- 10000 shares of 10/- each
Reserves & surplus( Incl Share premium) are Rs. 2.85 Crores
Can it buy back the same from its own resources.
If yes let me provide the detailed proceedings
thanks.
CAclubindia
