what is the procedure for Buy Back of Bonus Shares in unlisted Private Limited Company?
What is time of holding period for buy back of Bonus Shares in unlisted Private Limited Company?
The buy-back is authorised by the Articles of association of the Company;.
A special resolution has been passed in the general meeting of the company authorising the buy-back. In the case of a listed company, this approval is required by means of a postal ballot. Also, the shares for buy back should be free from lock in period/non transferability.The buy back can be made by a Board resolution If the quantity of buyback is or less than ten percent of the paid up capital and free reserves;
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