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Buy back of shares

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Querist : Anonymous

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Querist : Anonymous (Querist)
29 November 2013 Hi,I want to know if any director of the company is resigning and the authorised capital of the company is one lack.Resigning director having share 7.5%.Company gave 10,000 advance to the resigning director in previous month.Now what should be the procedure of buyback of shares.Can you explain in detail.
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Ajay Mishra

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Ajay Mishra (Expert)
29 November 2013 The provision of buy back will not applicable.

You also check the terms and condition of giving advance to director.
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