With reference to SEBI regulations, is it permissible for a company to buy-back of its equity shares in the below situations. It intends to buy-back 5% of its total paid-up equity capital and free reserves by way of boar

In terms of regulation 5(i)(b) of the SEBI (Buy-Back of Securities) Regulations, 2018, special resolution in general meeting is not required where the buy-back is 10% or less of the total paid-up equity capital and free reserves of the company based on the standalone or consolidated financial statements of the company, whichever sets out a lower amount and such buy-back has been authorised by the board of directors by means of a resolution passed at its meeting of Board. In the given case, the company intends to buy-back 5% of its total paid-up equity capital and free reserves by way of board resolution passed in a meeting. Hence, the company can proceed for buy-back.