Sprint Ltd., a listed company, wants to implement buy-back of shares. Its financials as at June, 2009 are as under: Paid-up equity share capital (20,00,000 shares of ₹10 each) : ₹200 lakh Preference share capital (redeem
CS Professional · Advanced Company Law and Practice · PYQS · June 2014
Sprint Ltd., a listed company, wants to implement buy-back of shares. Its financials as at June, 2009 are as under: Paid-up equity share capital (20,00,000 shares of ₹10 each) : ₹200 lakh Preference share capital (redeemable in December, 2024) : ₹100 lakh Free reserves : ₹200 lakh 10% Debentures : ₹200 lakh Loans from IDBI : ₹300 lakh Compute the quantum of equity capital of the company eligible for buy-back of shares by citing relevant provisions of the Companies Act, 1956.
Topics: Buy-back of Shares
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