Introducing the “In Favour Of” filter in Case Laws.
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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Shareholder Approval Essential for Employee Schemes; Includes SEBI Info, Secondary Acquisition, and Subsidiary Benefits Under Specific Conditions.</h1> No scheme can be offered to company employees without shareholder approval via a special resolution at a general meeting. The explanatory statement and resolution must include SEBI-specified information. Separate shareholder approval is required for secondary acquisition for scheme implementation, specifying acquisition limits, and for secondary acquisition by a trust due to capital expansion to maintain a five percent cap. Approval is also needed for granting options, SARs, shares, or benefits to employees of subsidiary or holding companies, or to identified employees receiving benefits equal to or exceeding one percent of the issued capital in any year.
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