Examine the validity of this statement: "The offer of buy-back of its own shares by a company shall not be made within a period of six months from…

Provisions: As per the proviso to Section 68(2) of the companies Act, 2013, no offer of buy-back shall be made within a period of one year from the date of closure of the preceding buy-back offer, if any, not six months as the statement claims. Separately, Section 68(8) of the companies Act, 2013, provides that where a company completes a buy-back, it shall not make a further issue of the same kind of securities [ including by allotment under Section 62(1)(a)] within six months, except by way of bonus issue or in discharge of subsisting obligations such as conversion of warrants, stock options, sweat equity, or conversion of preference shares/debentures into equity. Analysis: The statement transposes these two periods (it states a "six-month" gap before a fresh buy-back offer and a "one-year" cooling period for further issue of the same kind of shares). This is the reverse of the correct position. Conclusion: The statement, as worded, is therefore not valid.