The Companies (Shares Capital and Debentures) Rules, 2014 were amended by the Ministry of Corporate Affairs on 10- 3-2016. Rule 17 deals with the norms that are to be followed by private companies and unlisted public companies for buy-back of their securities. As per Rule 17(1)(n), auditors have to address a report to the Board of directors of the company stating certain disclosures. Said Rule has now been amended to include a proviso to state that when the audited accounts are more than 6 months old, buy back shall be calculated based on un-audited accounts not older than 6 months from the date of the offer document, subject to limited review by the auditors of the company.