Based on the Buyback size, the following approvals are required:
- Board Resolution: Only board resolution is required for the buyback of shares upto 10% of the company’s total paid-up equity share capital and free reserves.
- Shareholders Special REesolution: If a company intends to buyback more than 10% but within 25% of the total paid-up equity capital and free reserves, shareholders approval through special resolution is mandatory.
