UDAY UMESH LALIT,J. - (1.) Leave granted.
(2.) This appeal arises out of the final judgment and order dated 06.09.2019, Corrected vide further order dated 12.09.2019 passed by the High Court Judicature at Madras in Writ Appeal No.2063 of 2019.
(3.) The appellant is engaged in the business of development of computer software and related services. In the Financial Year 2016-17, the appellant approached the High Court with a Scheme of Arrangement and Compromise under Sections 391 to 393 of the Companies Act, 1956 to buy-back its shares. The High Court sanctioned the Scheme on 18.04.2016 in Company Petition No.102 of 2016, pursuant to which the appellant purchased 94,00,534 shares at a price of Rs.20,297/- per share from its four shareholders and made a total remittance of Rs.19,080 crores approximately. The details in that behalf were:- JUDGEMENT_35_LAWS(SC)3_2020_1.JPG According to the appellant, this buy-back of shares was effected in May 2016. ;