Lock-in requirement for sweat equity shares mandates a three-year retention by employees and directors under company rules. Rule 10 mandates that sweat equity shares issued to employees or directors in unlisted companies be locked in for three years from the date of allotment, imposing a temporal restriction on transfer or sale by the initial beneficiaries under the Unlisted Companies (Issue of Sweat Equity Shares) Rules, 2003.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Lock-in requirement for sweat equity shares mandates a three-year retention by employees and directors under company rules.
Rule 10 mandates that sweat equity shares issued to employees or directors in unlisted companies be locked in for three years from the date of allotment, imposing a temporal restriction on transfer or sale by the initial beneficiaries under the Unlisted Companies (Issue of Sweat Equity Shares) Rules, 2003.
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