A company conducted a buy-back of 10% of its equity in August 2020. Can it conduct another 10% buy-back in September 2020?

1. Section 68(2) — no offer of buy-back shall be made within 12 months from the date of the closure of the preceding buy-back. 2. The annual cap is separate; the time gap is mandatory. 3. Hence (B). _Source: ICAI BoS CA Inter Paper 2 — Share Capital and Debentures_