TMI BlogDefinitionsX X X X Extracts X X X X X X X X Extracts X X X X ..... ia or SEBI; d. control shall have the same meaning as defined under the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011; e. ― emergency means the need of funds by the trust to meet the commitment arising out of the objective of the scheme; f. ― employee means, - 1 [(i) a permanent employee of the company who has been working in India or outside India; or (ii) a director of the company, whether a whole time director or not but excluding an independent director; or (iii) an employee as defined in clause (i) or (ii) of a subsidiary, in India or outside India, or of a holding company of the company but does not include- (a) an employee who is a pr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hese regulations, as the case may be; l. ―general employee benefits scheme or GEBS means any scheme of a company framed in accordance with these regulations, dealing in shares of the company or the shares of its listed holding company, for the purpose of employee welfare including healthcare benefits, hospital care or benefits, or benefits in the event of sickness, accident, disability, death or scholarship funds, or such other benefit as specified by such company; m. ― grant means the process by which the company issues options, SARs, shares, or any other benefits under any of the schemes; n. ― grant date means the date on which the compensation committee approves the grant; o. ― group means two or ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ments) Regulations, 2009; v. ― promoter group shall have the same meaning assigned to it under the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009: Provided where the promoter or promoter group of a company is a body corporate, the promoters of that body corporate shall also be deemed to be promoters of such company; w. ―relative shall have the same meaning as defined under section 2 (77) of the Companies Act, 2013; x. ―relevant date means,- (i). in the case of grant, the date of the meeting of the compensation committee on which the grant is made; or (ii). in the case of exercise, the date on which the notice of exercise is given to the company or ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n may be made by way of cash payment or shares of the company. Explanation.- An SAR settled by way of shares of the company shall be referred to as equity settled SAR; zf. ―stock appreciation right scheme or SAR scheme‖ means a scheme under which a company grants SAR to employees; zg. ― trust means a trust established under the provisions of Indian Trusts Act, 1882 including any statutory modification or re-enactment thereof, for implementing any of the schemes covered by these regulations; zh. ― trustee means the trustee of the trust; zi. ― vesting means the process by which the employee becomes entitled to receive the benefit of a grant made to him under any of the schemes; zj. ― ve ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
