Legal Question in Business Law in India

This is regarding buy back of shares COMPANY LAW RULES

Company A and B have same promoter who is a person

Company A is listed

Company B is not listed

Both have same logo and are in related business.

Can company B buy shares of company A from an individual off market via demat transfer?

If yes quote company law

If no quote company law


Asked on 1/19/15, 5:50 am

1 Answer from Attorneys
Fca Prashant Chavan Expert Edge LLP

19.01.2015

Dear Sir / Madam,

Please refer to and follow related Case Study No. LD/63/34 of Legal Update appearing in the November, 2014 edition of The Chartered Accountant Journal in the case of Suresh Gupta vs Securities and Exchange Board of India Act, September 1, 2014 (DEL).

The relevant applicable Sections are : Section 11B, read with Sections 15Y, 20A and 21 of the Securities and Exchange Board of India Act, 1992 - Powers and Functions of the Board - Power to issue directions.

Regards,

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Answered on 1/19/15, 8:41 am


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