Buy back of shares - max. no. of shares that can be buyback

This is the case of buy back of equity shares not the issue of new equity shares that is my question above.  I am getting confused please explain me ... 

For buy back of shares as per sec 55 of the companies act 2013 company can go for following 3 alternative options.
1. out of free reserves.
2. out of fresh issue
3. both of the above.
ok.
if company has huge amount of free reserves then company will choose option 1 only. i.e. buy back exclusively out of free reserves only.
but company requires some amount of liquid for payment to share holders on buy back.
in the case of shortage of liquid cash - company will go for the following options.
1. sale of assets
2. loans from banks
3. issue of debentures/ bonds
4. issue of shares.
when company has selected last option, then how many shares to be issued for fulfilling the liquid fund requirements. so
number is shares to be issued is based on issue price not on face value.

Thank you so much now it's clear...

coz co act 2013 is finished

 

Condition of Buy-back: As per Section 68 of the Companies Act, 2013 the conditions for Buy-back of shares are: Authorization for Buy-Back: Articles of Association(AOA) of the company should authorize Buy-Back, if no provision in AOA then first alter the AOA. Approval:: Approval of Board of Directors- up to10% of the total paid-up equity capital and free reserves of the company; or Approval of Shareholders- up to25% of the aggregate of paid-up capital and free reserves of the company. Post buy-back debt-equity ratio cannot exceed 2:1. Only fully paid up shares can be brought back in a financial year. Etc..