buy back of shares
Querist : Anonymous
Querist : Anonymous
i was bit confused, as section 78 of the Indian Companies Act, 1956 restricts the uses of security premium (issue of bonus shares, redemption premium, w.off preliminary expenses, w.off expenses on issue of securities.)..
While section 77A, states that a company can buy back its shares out of free reserves, security premium or new issue....
Then, i got clear, that when security premium is transferred to Capital Redemption Reserve, it shall be used only for issue of bonus shares... (both section 77A and 78 are complied with)
Click here to login now
Similar Resolved Queries
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
