Companies Share Capital and Debentures) Amendments Rules, 2016

Central Government has amended rule 17 of Companies (Share Capital and Debentures) Rules, 2014 via notification dated 10th March, 2016 and inserted following proviso in rule 17, in sub-rule (1), in clause (n), after sub-clause (iii):

"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".

http://www.mca.gov.in/Ministry/pdf/Notification_11032016.pdf 

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