Buyback of Equity Shares_Unlisted Private Company

Pursuant to section 68 (2) and 68 (7) of Companies Act, 2013- if all the conditions are met, one can buy back the rights.

sh. 8 is offer letter, sh.9 is DECLARATION OF SOLVENCY WITH THE REGISTRAR, sh.10 will register buy back..sh.11...

So start with SH.8 form

Sir, The company was incorporated one year back only so what to attach in SH 8 as it need three years audited balance sheet, Kindly reply

https://www.registrationwala.com/download.php?fp=L2hvbWUvcmVnaXN0cmF0aW9ud2FsYS9wdWJsaWNfaHRtbC91cGxvYWRlZF9maWxlcy9yb2Mv&f=Rm9ybV9TSC04LnBkZg==

here is the for, I don’t see any three years time limit in it... use it and fill it 

kindly check the Attachment to the form, a mandatory attachment is 3 year audited financial statements, can we escape this attachment. Kindly reply

Attach only one year audited statements... I read the restrictions for buyback under articles of association and nothing mentioned about a startup company. 

Whether the restriction related to buy back u/s 70 are checked? No buy back will be permitted if the buyback falls under the clause of Section 70?

(1. through any subsidiary company including its own subsidiary companies; 

2. through any investment company or group of investment companies; or

3. if any default, is made by the company, in the repayment of deposits accepted either before or after the commencement of this Act, interest payment thereon, redemption of debentures or preference shares or payment of dividend to any shareholder, or repayment of any term loan or interest payable thereon to any financial institution or banking company: However, the buy-back is not prohibited, if the default is remedied and a period of three years has lapsed after such default ceased to subsist.

4. No company shall, directly or indirectly, purchase its own shares or other specified securities in case such company has not complied with the provisions of sections 92 Annual Return, 123 (Declaration of Dividend), 127 (punishment for failure to distribute dividend) and section 129 (Financial Statement)

so add only only one year financial statement and it better to consult your auditor on this issue Txs.