The Ministry of Corporate Affairs (MCA) on January 21, 2023, published the Companies (Share Capital and Debentures) Amendment Rules, 2023 to further amend the Companies (Share Capital and Debenture) Rules, 2014.
They shall come into force with effect from January 23, 2023.
The following has been amended namely: -
• In Rule 17 which states “Buy-back of shares or other securities”
(a) For sub-rule (14), the following sub-rule shall be substituted namely: -
"(14) There shall be a declaration with the return filed with the Registrar in Form No. SH.11, 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";
(b) In the Annexure the following forms shall be substituted namely: -
(i) Form No. SH-7 which states “Notice to Registrar of any alteration of share capital” Form No. SH-8 which states “Letter of Offer” and Form No. SH-9 which states “Declaration of Solvency”.
Disclaimer: refer to the document to view the amendments in detail.
