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

Sunrise Textiles Ltd, a listed company, completed a buy-back of its equity shares on 10 March. As per the Companies Act, 2013, within how many days of completion must it file the return of buy-back with the Registrar and SEBI?

The return of buy-back must be filed with the Registrar and SEBI within thirty days of completion of the buy-back. The seven-day period applies to extinguishing and physically destroying the bought-back securities, not to filing the return.

  1. ASeven days
  2. BThirty daysCorrect
  3. CSixty days
  4. DNinety days

Explanation

The Act requires a company, after completing a buy-back, to file with the Registrar and SEBI a return with prescribed particulars within thirty days of completion. Seven days is the period for extinguishing and physically destroying the securities, so it is a different requirement.

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