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

Kaveri Pharma Ltd, an unlisted public company, has completed a buy-back. Which statement about filing the return of buy-back is correct under section 68 of the Companies Act, 2013?

An unlisted company files the buy-back return only with the Registrar. The Act bars filing the return with SEBI for a company whose shares are not listed on a recognised stock exchange, but the Registrar filing is still required within thirty days of completion.

  1. AIt must file the return only with SEBI and not with the Registrar
  2. BIt must file the return with both the Registrar and SEBI, as listing makes no difference
  3. CIt must file the return with the Registrar, and no return is to be filed with SEBICorrect
  4. DIt need not file any return because the company is unlisted

Explanation

The return goes to the Registrar and SEBI, but the proviso says no return is to be filed with SEBI by a company whose shares are not listed on a recognised stock exchange. The Registrar filing still applies, so the unlisted company files only with the Registrar.

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