Are there any requirements/guidelines for an Android device? like numbers of buttons or minimum buttons required.
Also are there any android devices which do not have the menu and back buttons?
( I am aware that no menu/back buttons will kill most of the apps in terms of usability , I just wanted to know more on the topic 🙂 )
Yes. These are documented in the Compatibility Definition Document.
That depends on how you define “buttons” and “android devices”. Quoting from the CDD (see above link):
There are devices that do not have dedicated off-screen buttons (whether physical or touch-sensitive off-screen spots). The ARCHOS 5 Android tablet is one — it has the HOME and BACK buttons in an expanded title bar. However, it is unclear if Google considered them to have met the CDD, since the ARCHOS does not have the Android Market. Devices lacking the Market may not meet the CDD.
So, it is entirely possible to create devices that do not meet the CDD, but at that point Android is mostly just another embedded OS, IMHO.