(8)Where a company completes a buy-back of its shares or other specified securities under this section, it shall not make further issue of the same kind of shares [(including allotment of further shares under clause (a) of sub-section (1) of section 81) or other specified securities [within a period of six] [Substituted by Act 57 of 2001, for " within a period of twenty-four months" (w.r.e.f. 23.10.2001). ] months except by way of bonus issue or in the discharge of subsisting obligations such as conversion of warrants, stock option schemes, sweat equity or conversion of preference shares or debentures into equity shares.
