Issue of shares under Employees Stock Options Scheme to persons resident outside India

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..... New Regulations of 2017 8. Issue of shares under Employees Stock Options Scheme to persons resident outside India :- 1[(1) An Indian company may issue "employees' stock option" and/or "sweat equity shares" to its employees/directors or employees/directors of its holding company or joint venture or wholly owned overseas subsidiary/subsidiaries who are resident outside India, provided that : a) .....

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..... to an employee/director who is a citizen of Bangladesh/Pakistan shall require prior approval of the Foreign Investment Promotion Board (FIPB) of Government of India. (2) The Reserve Bank may require the company issuing "employees' stock option"and/or "sweat equity shares" to submit such reports and at such frequency as it may consider necessary.] ----------------- Notes:- 1. Substituted vide .....

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..... ns resident outside India under the scheme does not exceed the limit specified in clause (b) of sub-regulation (1). (3) The issuing company shall furnish to the Reserve Bank , within thirty days from the date of issue of shares under the scheme, a report giving the following particulars/documents, - (i) names of persons to whom shares are issued under the scheme and number of shares issued to e .....

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