Xgen Limited has a paid-up equity capital and free reserves to the extent of `50,00,000. The company is planning to buy back shares to the extent of `4,50,000. The company approaches you for advice about the following
(i) Is a special resolution required to be passed?
(ii) What is the time limit for completion of the buy-back?
(iii) What should be the ratio of aggregate debts to the paid-up capital-and free reserves after buy-back?

Answer rating: 100% (QA)

The detailed answer for the above question is provided below Section 682 of the Companies Act 2013 deals with the Conditions required for the buyback ... View the full answer