Buyback of shares by companies is a relatively new concept in India. There are several reasons as to why a company might buyback its own shares: (a) it gives the company flexibility to make adjustments in the capital structure, (b) company can boost operating profits and earning per share, (c) it deters an impending take-over bid, (d) company can correct perceived under-valuation of its shares and (e) it can arrest downward trend in shares prices. In view of these benefits, the introduction of buyback in the corporate sector of India has found favour with the regulatory authorities and received favourable response from the Indian companies. The present book examines a number of relevant issues concerning buyback of shares by companies in India including a comprehensive review of the theory underlying buyback operations, legislative provisions governing share buyback, accounting and reporting aspects of buyback and buyback provisions and practices prevailing in other parts of the world.