Home › CA Inter › accounting › Specified Securities Definition › 'Specified securities' for buy-back includes:
'Specified securities' for buy-back includes:
AEmployees' Stock Options and other securities as notified by Central Government
BEquity shares only
CConvertible debentures only
DBonds only
Answer & Solution
Correct answer: A. Employees' Stock Options and other securities as notified by Central Government
1. Step 1: Per Explanation I to Sec 68/70, "specified securities" includes ESOP and other notified securities.
2. Step 2: Central Government can notify additional categories.
3. Step 3: Hence (B).
_Source: ICAI BoS CA Inter Paper 1, Ch 12 "Buy-Back of Securities"_