Can Anyone help me please?
Buy Back Of Shares.
I have learnt that when we buy back shares we have to compliance with the sec 77A,77AA,77AB
Pls Help me with this example>> A co. bought back 10,000 shares of Rs. 100 each at Rs. 150 and there is no other capital except this. Balance sheet shows P&L 10,00,000 , General reserve 10,00,000 & Sec Premium 15,00,000?
The book that i am following says that CRR would be made out of Sec Premium(Compliance entry). I am confused because there is sufficient balance in P&L acc, why dont ther use P&L instead of Sec Premium