Companies Act, 2017

PART-V

INVITATION OF DEPOSITS

Companies Act, 2017 PART-V INVITATION OF DEPOSITS From: 2023-11-01 - To: 0000-00-00 86. Prohibition of purchase by company or giving of loans by it for purchase of its shares.- 1[(1) No company having a share capital, other than a listed company shall have power to buy its own shares.] (2) No public company or a private company being subsidiary of a public company shall give financial assistance whether directly or indirectly for the purpose of, or in connection with, a purchase or subscription made or to be made, by any person of any shares in the company or in its holding company. (3) Nothing in sub-section (2) shall apply to- (a) the lending of money by a banking company in the ordinary course of its business; (b) the provision by a company of money in accordance with any scheme approved by company through special resolution and in accordance with such requirements as may be specified, for the purchase of, or subscription for shares…