Securities and Exchange Board of India(SEBI), set up a 7-member expert group chaired by Sandip Bhagat, partner at S&R Associates to review the frameworks of the share based employee benefits & issue of sweat equity and recommend policy changes.
Mandate of the Expert group:
i.The expert group will revisit the framework of the sweat equity regulations against the companies act and suggest required policy changes.
ii.The expert group will make suggestions on whether it is advisable to combine both the regulations.
iii.If the norms of these regulations can be combined, the panel will provide draft rules in this regard.
Usually, the sweat equity shares are issued by a company to its employees at a discount or for other considerations other than cash.
Members of the expert group:
- Santosh Haldankar, company secretary of HDFC Bank;
- Vikram Shroff of Nishith Desai Associates
- Narayan Shankar, company secretary of Mahindra & Mahindra.
- Pavan Vijay, founder of Corporate Professionals;
- M Sanaulla Khan, company secretary of Wipro;
- Jeevan Sonparote Chief General Manager of SEBI
Recent Related News:
On September 21, 2020 Securities and Exchange Board of India (SEBI) constituted the Technical Group on Social Stock Exchange under the Chairmanship of Harsh Kumar Bhanwala, former Chairman of NABARD. The group will develop a framework for onboarding non-profit organisations and for-profit enterprises.
About Securities and Exchange Board of India(SEBI):
Chairman– Ajay Tyagi
Headquarters– Mumbai, Maharashtra