In case of buy-back of shares, passing of special resolution by a company is not required if :

CS Executive · Corporate and Management Accounting · PYQS · June 2022
In case of buy-back of shares, passing of special resolution by a company is not required if :
(A) the buy-back is 10% or less of the total paid-up equity share capital
(B) the buy-back is 10% or less of the total paid-up equity share capital and free reserves
(C) the buy-back is 25% or less of the total paid-up equity share capital
(D) the buy-back is 25% or less of the total paid-up equity share capital and free reserves

Answer & Explanation:

Correct Answer: Option (B)

Official answer key: (B).

Topics: Corporate Accounting

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