SEBI (Employee Stock Option Scheme and Employee Stock Purchase Scheme) Guidelines, 1999
4. Eligibility to participate in ESOS
4.1 An employee shall be eligible to participate in ESOS of the company.
4.2 An employee who is a promoter or belongs to the promoter group shall not be eligible to participate in the ESOS.
4.3 A director who either by himself or through his relative or through any body corporate, directly holds more than 10% of the outstanding equity shares of the company shall not be eligible to participate in the ESOS.
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