Extension of time line for alignment with SEBI ESOS and ESPS Guidelines 1999
Summary
SEBI extends the deadline for aligning existing employee benefit schemes with the SEBI (ESOS and ESPS) Guidelines, 1999, to June 30, 2014. This extension modifies Clause 35C(ii) of the Equity Listing Agreement, replacing the previous December 31, 2013 deadline. All other disclosure requirements from prior circulars remain applicable to listed companies during this extended period.
Text
In light of the ongoing review, it has been decided to extend the time line for alignment of existing employee benefit schemes with the SEBI (ESOS and ESPS) Guidelines, 1999, to June 30, 2014. Accordingly, in Clause 35C (ii) of the Equity Listing Agreement, the words "December 31, 2013" shall be replaced with "June 30, 2014".
All other requirements including the disclosures specified under the aforesaid circulars dated January 17, 2013 and May 13, 2013 shall continue to apply to the listed companies.
This circular is being issued in exercise of the powers under Section 11 read with Section 11A of the Securities and Exchange Board of India Act, 1992.
Source: SecMarx — Extension of time line for alignment with SEBI ESOS and ESPS Guidelines 1999. Verbatim text is public record; SecMarx structuring (linkage to applying orders) is cited to us.