Comment on the following : No offer of buy-back shall be made within a period of 180 days from the date of Board meeting or meeting of shareholders, as the case may be, in respect of the preceding offer of buy-back.
CS Professional · Corporate Restructuring, Valuation and Insolvency · PYQS · June 2016
Comment on the following : No offer of buy-back shall be made within a period of 180 days from the date of Board meeting or meeting of shareholders, as the case may be, in respect of the preceding offer of buy-back.
Answer & Explanation:
As per Section 68(2) of the Companies Act, 2013, no offer of buy-back shall be made within a period of one year reckoned from the date of the closure of the preceding offer of buy-back, if any. Therefore, the statement that "No offer of buy-back shall be made within a period of 180 days from the date of Board meeting or meeting of shareholders, as the case may be, in respect of the preceding offer of buy-back" is incorrect. The correct period is one year.
Topics: Corporate Restructuring
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