Buyback of equity shares_unlisted private company

A Company is incorporated on December 2019 (By converting a partnership firm into a Company) and The Company has made a Right Issue on March 2020 can it buy back its equity shares. In the Form SH-8, 3 year audited financials are mandatory to be attached, as our company floated in last year only, kindly suggest what we should attach in this regard.

Buy back of a private limited company/unlisted company is governed by Section 68 to 70 of the Companies Ac, 2013 read with Rule 17 of the Companies (Shares Capital and Debentures) Rules, 2014

In the given situation, Provisions of the Buy back not provided any prohibition to buy back if the rights issue is made in the last year except that In accordance with Section 68(1) proviso says that  no buy-back of any kind of shares can be made out of the proceeds of an earlier issue of the same kind of shares.  But the buy back should be subject to the Restrictions and prohibitions prescribed under Section 69 and 70 of the Companies Act, 2013.

Though it is registered as Private Limited company in 2019, following available documents to be filed along with SH-8 

  1. Copy of Board Resolution /Special Resolution
  2. Details of Promotors/Directors of the Company
  3. Notice of the Meeting for approval of buyback by BOD/Special Resolution with Explanatory Statement
  4. The Available audited/unaudited financial statements
  5. Statutory approvals
  6. Proof of opening of the bank account
  7. Details of auditor
  8. Details of Banker and trustee if any
  9. Details of earlier buyback of shares/securities if any






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