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of <h1>Regulation 7: Modify Employee Benefit Schemes with Shareholder Approval, Ensure No Harm to Employees' Interests.</h1> Regulation 7 of the Securities and Exchange Board of India (Share Based Employee Benefits and Sweat Equity) Regulations, 2021, allows companies to modify the terms of employee benefit schemes through a special resolution of shareholders, provided the changes do not harm employee interests. Companies can also alter terms to meet regulatory requirements without shareholder approval. Any variation must comply with existing regulations and be fully disclosed, including the rationale and affected employees. Companies may reprice unexercised options or shares if market conditions render them unattractive, ensuring such changes are not detrimental to employees and are approved by shareholders.
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