Section 67 of CA 2013 : Section 67: Restrictions On Purchase By Company Or Giving Of Loans By It For Purchase Of Its Shares

CA 2013

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Explanation using Example

Imagine a scenario where XYZ Ltd., a public company, is considering ways to increase employee loyalty and investment in the company. They decide to implement an employee stock ownership plan (ESOP) that allows employees to purchase shares of the company. According to Section 67 of the Companies Act, 2013, XYZ Ltd. cannot directly purchase its own shares, nor can it provide financial assistance to employees for the purpose of buying shares in the company or its holding company.

However, under subsection (3)(b) of...

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