Dear all ,
Please clarify on following
As per section 62 (1)(b) , Every increase in share capital shall have pari passu effect of issuing such shares to employees under ESOP.
Whether it means - with every issue of shares by whatever name called , do we have to issue shares to employees on pro rata basis ??
Thanks
Section 62 (1)(b) of the Act states that every increase in subsribed share capital shall have pari passu effect of issuing such shares to employees under ESOP which means such shares have the equal rights and on same footing to the existing shares. It does not talk about pro rata basis.
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