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Sasi mcvv   25 September 2021

Buyback..

can a company use proceeds from fresh issue of equity shares for buyback of existing shares


 1 Replies

Rama chary Rachakonda

Rama chary Rachakonda (Master in Accounts & Lawyer email ID:ramachary64@gmail.com voice no:9989324294)     26 September 2021

According to Section 77A, where a company purchases its own shares out of free reserves, then a sum equal to the nominal value of the shares so purchased shall be transferred to the capital redemption reserve account and details of such transfer should be disclosed in the balance sheet.


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