Para 16 - Eligibility to participate in ESPS - SEBI (Employee Stock Option Scheme and Employee Stock Purchase Scheme) Guidelines, 1999

PART B: ESPS 15. Eligibility to participate in ESPS: 16.1 An employee shall be eligible to participate in the ESPS. 16.2 An employee who is a promoter or belongs to the promoter group shall not be eligible to participate in the ESPS. 16.3 A director who either by himself or through his relatives or through any body corporate, directly or indirectly holds more than 10% of the outstanding equity shares of the company shall not be eligible to participate in the ESPS.