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of <h1>Indian Companies Can Now Issue Employee Stock Options to Sri Lankan and Bangladeshi Citizens Under FEMA 1999.</h1> The circular addresses the issuance of shares under the Employees Stock Option Scheme to citizens of Sri Lanka and Bangladesh. Previously, Indian companies were restricted from issuing shares to employees who are citizens of Bangladesh, Pakistan, or Sri Lanka under the Foreign Direct Investment Scheme. Following a review and consultation with the government, it has been decided that listed Indian companies can now allot shares to employees who are citizens of Bangladesh and Sri Lanka. This directive is issued under the Foreign Exchange Management Act, 1999, and authorized banks are instructed to inform their clients and customers of this update.
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