Employees Stock Option Scheme liberalisation allows authorised banks to permit overseas ESOP remittances and repurchases with conditional reporting. Authorised Dealer banks may permit remittances for acquiring ESOP shares whether issued directly or via trust/SPV/step down subsidiary provided the issuing company holds not less than 51% of the Indian company, the ESOP is offered globally on a uniform basis, and an Annual Return with remittance and beneficiary details is submitted to the Reserve Bank (Annex I). Foreign companies are granted general permission to repurchase such shares if issuance complied with FEMA rules, repurchase follows the initial offer document, and an Annual Return is filed (Annex II).
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Employees Stock Option Scheme liberalisation allows authorised banks to permit overseas ESOP remittances and repurchases with conditional reporting.
Authorised Dealer banks may permit remittances for acquiring ESOP shares whether issued directly or via trust/SPV/step down subsidiary provided the issuing company holds not less than 51% of the Indian company, the ESOP is offered globally on a uniform basis, and an Annual Return with remittance and beneficiary details is submitted to the Reserve Bank (Annex I). Foreign companies are granted general permission to repurchase such shares if issuance complied with FEMA rules, repurchase follows the initial offer document, and an Annual Return is filed (Annex II).
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