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CS Executive · Capital Market and Securities Laws · Buy-Back of Securities

Ganga Steels Ltd bought back its shares and must maintain a register under section 68. Which of the following is a particular the Act specifically requires to be entered in that register?

The register of buy-back must show the date of extinguishing and physically destroying the securities, along with the securities bought, consideration paid, date of cancellation and other prescribed particulars. Voting details of directors, a board-day market price and the debt-equity ratio are not among the specified entries.

  1. AThe date of extinguishing and physically destroying the securitiesCorrect
  2. BThe names of directors who voted for the special resolution
  3. CThe market price on the day of the board meeting
  4. DThe ratio of debt to equity after the buy-back

Explanation

The register must record the securities bought, the consideration paid, the date of cancellation, the date of extinguishing and physically destroying them, and other prescribed particulars. Director voting details, market price on a board date and the debt-equity ratio are not listed particulars.

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