Regulation 38 - Lock-in of sweat equity shares. - Securities and Exchange Board of India (Share Based Employee Benefits and Sweat Equity) Regulations, 2021

38. Lock-in of sweat equity shares. (1) The sweat equity shares shall be locked in for such period of time as specified in relation to a preferential issue under the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018 , as amended from time to time. (2) The provisions of the Securities and Exchange Board of India (Issue of Capital and Disclosures Requirements) Regulations, 2018 in respect of public issue in terms of lock-in and computation of promoters contribution shall apply if a company makes a public issue after it has issued sweat equity shares.