Cos to meet employee benefit schemes norms by June 2014

India Infoline News Service | Mumbai |

The regulator at present is reviewing the current framework for employee stock option and benefit plans

The SEBI (Securities and Exchange Board of India) on Friday gave time till June next year for companies to align their employee benefit schemes with existing rules.
The regulator at present is reviewing the current framework for employee stock option and benefit plans.

In light of the ongoing review, it has been decided to extend the time line for alignment of existing employee benefit schemes with the SEBI (ESOS and ESPS) Guidelines, 1999, to June 30, 2014, SEBI said in a notification.

Accordingly, in Clause 35C (ii) of the Equity Listing Agreement, the words "December 31, 2013" shall be replaced with "June 30, 2014", SEBI added.



 

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