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of <h1>Listed companies need shareholder approval for sweat equity shares issuance, excluding promoters from voting per SEBI rules.</h1> In the context of issuing sweat equity shares to promoters, a listed company must obtain approval from a simple majority of shareholders during a General Meeting. Voting must include a postal ballot, and promoters receiving shares cannot participate in the resolution. Each issuance requires a separate resolution, which remains valid for up to twelve months. The explanatory statement accompanying the resolution must include specific disclosures as outlined in the relevant schedule. These regulations are governed by the Securities and Exchange Board of India (Issue of Sweat Equity) Regulations, 2002.
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