A private limited company wants to give ESOP to director who is also shareholder holding more than 10 % shares. However, as per plain reading of companies act, 2013, company can not provide ESOP to such director. whether there is any way through which company can provide such option to its directors????
A director who either by himself or through his relative or through any body corporate, directly or indirectly holds more than 10% of the outstanding equity shares of the company shall not be eligible to participate in the ESOS.
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