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June 2015
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New SEBI Circular Supplementing SEBI (Share Based Employee Benefits) Regulations, 2014
Securities and Exchange Board of India (SEBI) had enacted SEBI (Share Based Employee Benefits) Regulations, 2014 (Regulations) on October 28, 2014 repealing the relevant Guidelines. However clarifications on procedural and disclosure aspects of the schemes and transactions were kept pending for notification by SEBI.

On June 16th SEBI issued a circular announcing these requirements in respect of minimum contents of a Trust Deed (in case of Trust route of implementation), standard disclosures to be made to the shareholders while seeking their approval for the scheme, format of applying to the stock exchange seeking in-principle approval, disclosure to prospective option grantees, and detailed disclosures in the Directors’ report.

In this issue of ESOP Vistas, we have analyzed important aspects of this Circular that would help companies in complying with the relevant provisions
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