buy back of shares

[Satish Jain]

Hi all,

Can anyone clarify about SH-15?

Also regarding extinguish the share certificates?

[mgra...@gmail.com]

Rule - 17, of Companies (Share Capital and Debentures) Rules, 2014 read as under.

(14) There shall be annexed to the return filed with the Registrar in Form No. SH.11, a certificate in Form No. SH.15 signed by two directors of the company including the managing director, if any, certifying that the buy-back of securities has been made in compliance with the provisions of the Act and the rules made thereunder.

SH-15 is a certificate to be signed by 2 directors stating that the company has complied with the provisions of the Act on BUY-BAck of shares.

Regarding extinguishment of  share certificate, it has to be done as per section 68(7) which is as under;

(7) Where a company buys back its own shares or other specified securities, it shall

extinguish and physically destroy the shares or securities so bought back within seven days

of the last date of completion of buy-back.

regards/gopalrathnam

[mgra...@gmail.com]

in case of listed company certificate of extinguishment is also to be sent to stock exchanges./ nsdl/csdl. for copy of the certificate you may refer to in the link as under in respect of extinguishment made by Alembic Ltd, a public company.

https://www.alembiclimited.com/Buyback/AL-Extinguishment%20Certificate-14-May-2018.pdf

Regards/gopalrathnam

On Tuesday, February 18, 2020 at 11:21:01 AM UTC+5:30, Satish Jain wrote:

[Satish Jain]

Thanks for you reply. 

My question is do these certificates are to be required from professionals also?  Or only from directors will do? 

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