President K R Narayanan on Saturday night promulgated an ordinance to allow companies to buy back their shares, issue sweat equity and make ...
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President K R Narayanan on Saturday night promulgated an ordinance to allow companies to buy back their shares, issue sweat equity and make inter-corporate investments and loans without government permission. The ordinance, issued amending the 1956 Companies Act, said companies were now allowed to buy back their own shares up to 25 per cent of paid-up capital and free reserves.
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