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SEBI extends ESOPs compliance deadline to Dec 31

While extending the deadline, SEBI, however, said that any further grant of ESOPs after 17 January has to be strictly in accordance with the new guideline

January 01, 1970 5:30 IST | India Infoline News Service
Market regulator SEBI (Securities and Exchange Board of India) on Monday extended the deadline by which listed Indian companies have to comply with new rules on employee stock option schemes (ESOPs) and employee benefit schemes to 31 December from 30 June.

On 17 January, the regulator made amendments to ESOPs guidelines to prevent listed companies from framing any employee benefit schemes involving acquisition of their own stocks from the secondary market. 

While extending the deadline, SEBI, however, said that any further grant of ESOPs after 17 January has to be strictly in accordance with the new guideline. The regulator said that employee benefit that have already acquired securities of the company from the secondary market before 17 January may continue to hold such securities beyond 31 December, provided that the schemes have followed the new guidelines and such securities are used only in accordance with these.

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