Buy back calculations when audited accounts more than six months old-MCA Notification
Government of India
Ministry of Corporate Affairs
Notification
New Delhi, 10th March, 2016
GSR….(E).- In exercise of the powers conferred by sub-sections (1) and (2) of section 469 of the Companies Act, 2013 (18 of 2013), the Central Government hereby makes the following rules further to amend the Companies (Share Capital and Debentures) Rules, 2014, namely:—
1. (1) These rules may be called the Companies (Share Capital and Debentures) Amendment Rules, 2016.
  (2) They shall come into force on the date of their publication in the Official Gazette.
2. In the Companies (Share Capital and Debentures) Rules, 2014, in rule 17, in sub-rule (1), in clause (n), after sub-clause (iii), the following proviso shall be inserted, namely:—
“Provided that where the audited accounts are more than six months old, the calculations with reference to buy back shall be on the basis of un-audited accounts not older than six months from the date of offer document which are subjected to limited review by the auditors of the company.”.
[F.NO.01/04/2013 CL-V (PART-II)]
Amardeep Singh Bhatia
Joint Secretary to the Government of India
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