Your Company intends to buy back its own shares. What are the restrictions on buy back of own shares under the Companies Act, 2013?

Restrictions on Buy Back of Own Shares No Company shall directly or indirectly purchase its own shares or other specified securities through any subsidiary company including its own subsidiary company; thorough any investment company or group of Investment companies, or if a default is made by the company in the payment of deposits accepted either before or after the commencement of the Companies Act 2013, interest payment thereon, redemption of debentures or preference shares or payment of dividend to any shareholder or repayment of any term loan or interest payable thereon to financial institution or banking company. Provided that buy back is not prohibited if the default is remedied and a period of three years has lapsed after such default ceased to subsist. No company shall directly or indirectly purchase its own shares or other specified securities, if the company has not complied with the provisions of- Section 92-Annual Return Section 123-Declaration and payment of Dividend Section 127-Failure to pay Dividend Section 129-Failure to give True and Fair Statement