Particulars to check for buyback for a private limited company/ unlisted public company

•1. Check whether buyback is in accordance with Unlisted Public Company rules, 1999

•2. Check whether special resolution is passed in general meeting and board resolution is passed in board meeting for buyback

•3. Check whether Draft letter of offer is filed with ROC and subsequently dispatched to shareholders within 21 days of filing with ROC

44. Check whether declaration of solvency in form 4A is filed along with letter of offer with ROC

• check whether Offer of buyback is for a period of 15 to 30 days

•5. Check whether company has opened a separate bank account and deposited therein the money for buyback.

•6. Check whether share certificates are extinguished within 7 days from completion of buyback and file a certificate with ROC stating the same (the certificate must be verified by the statutory auditor)

•7. Check whether Return of buyback is filed with ROC within 30days of buyback

•8. Check whether company has maintained register of buyback of securities.