alleryStart learning →Section 70 bars a company from buying back shares through whom?
AIts debenture trustee
BIts statutory auditor
CIts subsidiary company
DIts merchant banker
Answer & Solution
Correct answer: C. Its subsidiary company
Direct or indirect buy-back through any subsidiary company is prohibited.
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Related questions
For shares in depository form, what is prima facie evidence of the owner's interest?In US usage, a debenture is specifically what kind of instrument?Convertible debentures typically carry what interest versus non-convertible ones?On a holder's death, who gets the securities under a valid nomination?Which of these is included in the Act's definition of debenture?Who can order immediate redemption of overdue debentures?A contract to take up debentures may be enforced by what remedy?A debenture trustee is mandatory if offer exceeds how many persons?