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

CS Executive · Corporate and Management Accounting · PYQS · December 2019
In case of buy-back of shares, passing of the special resolution is not required if:
(A) the buy-back is 10% or less of the total paid-up equity capital of the company
(B) the buy-back is 25% or less of the total paid-up equity capital of the company
(C) the buy-back is 10% or less of the total paid-up equity capital and free reserves of the company
(D) the buy-back is 25% or less of the total paid-up equity capital and free reserves of the company

Answer & Explanation:

Correct Answer: Option (C)

Official answer key: (C).

Topics: Company Law

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