SWEAT EQUITY SHARES(ESOP)

This query is : Resolved

kumar (Querist)
Follow

14 November 2008 DO SWEAT EQUITY SHARES OF UNLISTED COMPANIES REQUIRE A LOCK-IN -PERIOD OF THREE YEARS AS PER UNLISTED COMPANIES(ISSUE OF SWEAT EQUITY SHARES) RULES , 2003 OR ANY AMENDMENT HAS BEEN MADE TO THIS.
IF YES WHAT RULES SHOULD BE KEPT IN MIND?

S Kedarnath

S Kedarnath (Expert)
Follow

14 November 2008 Please see Rule 10 of the Ulisted CompNies (Issue of Sweat Equity Shares)Rules 2003.

Rule 10 stipulstes that for employees and directors there shall be a lock in period of three years from the date of allotment.