MCA vide notification dated dated 10 March 2016 has come up with Companies (Share Capital and Debentures) Rules 2016. It lays down that in Rule 17 (1)(n)(iii), the following provisio shall be inserted.
"Provided that where the audited accounts are more than six months old, the calculations with reference to buy back shall be on the basis of un-audited financials not older than six months from the date of offer document which are subjected to limited review by the auditors of the company"
(They shall come into force on the date of their publication in the official gazette)
QUESTION : Whether the said Amendment Rules have been notified in the OFFICIAL GAZETTE of India ?
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