alleryStart learning →Shares bought back must be extinguished and destroyed within
A15 days
B30 days
C7 days
D3 days
Answer & Solution
Correct answer: C. 7 days
Extinguishment and physical destruction must happen within seven days of completing the buy-back.
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Under Section 68, specified securities includeAfter a buy-back, a remaining investor's proportionate ownershipThe details of the transfer to capital redemption reserve are to be disclosed in the40,000 shares of face value Rs 5 are bought back at Rs 9. Equity share capital is debited Which can absorb the premium paid on a buy-back?Shares that a company has bought back areWithin six months after a buy-back, a company may still make aThe register of bought back shares is kept at the company's