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13th March 2002, Mumbai |
| Summary |
The conference took place on March 13, 2002,
in Mumbai, Taj Mahal Hotel and March 14, 2002, in Bangalore, The
Oberoi Hotel. Organized by ESOP Direct, Confederation Of Indian Industry and Global Equity Organization (USA) it brought together 150 attendees including key executives from Large and Medium Sized Companies, Venture Capitalist Funds, Consulting firms, Government of India Undertakings, Business Schools from across India. The conference explored the forces underlying changing view, trends arising from these changes, and the implications for companies that currently maintain or are considering implementing ESOPs. The conference was designed to enhance understanding of complex topic, emphasizing recent developments and emerging techniques. It featured academic evidence available to support productivity results or other favourable business outcomes in India and globally. The conference featured presentations on global trends by foreign speakers with vast experience in the field of Employee Ownership. It provided a wealth of information on all the important aspects of ESOP design, including setting plan objectives, types of ESOP Structures, challenges in implementing, trends in India and keys to successful ESOP plan. Over the various sessions covered regulatory issues relating to SEBI Guidelines, RBI and FEMA, Companies Act, CBDT, Compliance, Tax implication for Indian plans When the ESOP plans extend to employees in other countries needed to be revised the conference focused on some of the regulatory issues that need to be revised or clarified. It provided an update on changes in regulatory requirements in terms of Indian as well as Global Plans. The conference featured case studies which explain unique compensation philosophy the companies use and how they use stock as the cornerstone in this philosophy. The case study illustrations help support the academic evidence of impact of ESOP on Productivity, Performance and Share holders Return. At the conference ESOPs were discussed from both HR standpoint as well as from the legal and tax perspective. It was aimed at companies to leverage information to gain competitive advantage. |
| Full Day Session |
The session provided information on four major
topics - Global Scenario, ESOP Design and Structure Issues, ESOP
Regulatory Issues, and ESOP Case Studies. It provided a presentation
on the areas such as transparency, disclosures, and corporate governance,paradox
of compensation vs. ownership culture. It allowed participants to
learn from each other's experiences and best practices. |
| Business Leader's Forum ( Mumbai & Bangalore ) |
In an exclusive session for business
leaders, presenter shared successfully implemented Employee Ownership
Plans in their organizations, the challenges faced, the opportunities
exploited and the benefits realized The session featured speakers who discussed the impact of employee ownership on corporate performance, productivity and shareholders' returns. The participants profile for the session was CEOs, CFOs, Company Secretaries and HR heads of medium and large sized companies. It was a gathering of senior management professionals and decision makers. |
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| Key Speakers |
Mrs.
Anu Aga Chair Person, Confederation of Indian Industry and Thermax
Ltd. commented on the practices relating ESOP's in India
and the industry trends Mr. Vinod Dhall, Secretary, The Department Of Company Affairs, Government of India, coming down heavy on the issue of disclosures by Indian Companies, cited the recent international developments relating to collapse of Enron. Mr. Santrupt Mishra, Head of Human Resources, Birla Management Corporation Ltd. chaired the ESOP design and Implementation session, emphasized on need for synergsing overall corporate goals with ESOP objectives. Mr. P. R. Ramesh, General Manager, Securities Exchange Board of India, chaired the Regulatory Framework session emphasizing the importance of complying with the required laws for companies as well as employees to get the benefit of a plan. He welcomed suggestions from the participants to help the government authorities understand the areas of concern for companies. Mr. Ryan Weeden, Executive Director, Global Equity Organisation, talked about how employee ownership and participation equals higher sales growth, employment growth, productivity growth, ROA and a higher return to shareholders. Mr. Manab Bose Managing Partner, Connectivity International, spoke about ESOP as a part of variable pay structure could help corporates link employee performance to compensation and focused on the future of the type of compensation strategies that will be prevalent in the new economy. Mr. Ravi Pandit, Chairman, ESOP Direct concluded the Inaugural session speaking about ESOP Practices in India; addressing current challenges in the intersecting arenas of employee stock ownership plans (ESOPs) Mr. Harshu Ghate, Managing Director, ESOP Direct spoke about ESOP Designing and Structuring strategies for Employee Stock Option Programs and how ESOP's fit into a company's structure planning and culture Mr. D.A. Patwardhan ,Vice President, ESOP Direct presented the regulatory Issues relating to SEBI Guidelines, RBI and FEMA, Companies Act, CBDT, Compliance, Tax implication Valuation ESOP's. Mr. Som Shekar Sunderesan - Associate, Udwadia, Udeshi & Berjis. presented on the subject of regulatory issues with foreign ESOPs, covering areas such as exchange control, eligibility, Securities Laws Concerns and ESPP. |
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Case Studies |
WIPRO - Mr. Bijay Sahoo,Vice
President- Corporate Human Resource Development |
ICICI Ltd - Mr. R.B. Nirantar
- Head of HR ICICI ltd |
ZIP TELECOM LIMITED Mr. Shishir
Lal, President |
GEOMETRIC SOFTWARE SOLUTIONS
LTD - Mr. Pauroos Kakaria - Managing Director |
AZTEC SOFTWARE AND TECHNOLOGY
SERVICES LTD - Mr. Chandrasekaran, Founder Director |
MINDTREE CONSULTING - Mr. T .G.
C. Prasad, Head People Function |
Participants had a chance to
look "inside" some successful ESOP companies, these companies
presented insightful case studies of their unique employee ownership
structure that they used to recruit and retain in today's war of
talent and create an employee ownership culture. |
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