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buyback of shares
Can we use Security Premium account for the payment of buy back.(security premium is generated by previous issue of equity shares)
Replies (4)
YES BUYBACK OF THE SHARE IS ALLOWED OUT OF
1. FREE RESERVES
2. SECURITIES PREMIUM
3. PROCEEDS FROM EARLIER ISSUE
But section 68 of CO. Act 2013 say that
provided that no buy back of any kind of shares or other specified securities shall be made out of proceeds of an earlier issue of same kind of shares
provided that no buy back of any kind of shares or other specified securities shall be made out of proceeds of an earlier issue of same kind of shares
YA RIGHT BUT U CAN BUYBACK OF EQUITY BY PREFERENCE PROCEEDS
but there is no preference only equity shares than how can we use the security premium for BB
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