Question

State which of the following statements is true?

A Buy-back is for more than twenty-five per cent of the total paid-up capital and free reserves of the company.
B Partly paid shares cannot be bought back by a company.
C Buy-back of equity shares in any financial year shall exceed twenty-five per cent of its total paid-up equity capital in that financial year.
D Partly paid shares can be bought back by a company.
E None of the above
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