Can a private limited co. issue esop's and sweat equity?

HI, every one,

Had a querry regarding issue of ESOP's and Sweat equity. Can a private limited company issue a ESOP's and sweat equity share?

If yes then what guidelines shall be applicable? As SEBI guidelines for issue of ESOP's is not applicable to Pvt. Ltd. cos.

Is there similar guidelines for issue of Sweat Equity share?

And finally any other specific compliance guidelines available?