Section 70 of CA 2013 : Section 70: Prohibition For Buy-Back In Certain Circumstances
CA 2013
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Explanation using Example
Imagine a scenario where XYZ Ltd. is a publicly traded company that has been performing well and has accumulated excess cash. The management decides that it would be beneficial for the company to buy back some of its shares to improve earnings per share and provide value to its shareholders. However, XYZ Ltd. must comply with Section 70 of the Companies Act, 2013 before proceeding.
Upon reviewing their situation, they find that:
- The company has not defaulted on any repayments of deposits or interest, no...
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