The Securities and Exchange Board of India (SEBI) issued a circular on 17 January to amend the SEBI (Employee Stock Option Scheme and Employee Stock Purchase Scheme) Guidelines, 1999, (ESOP Guidelines) and the Equity Listing Agreement. SEBI undertook a review of the extant regulatory framework in the primary market and approved a host of reforms to revitalize the markets.
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The legislative and regulatory update is compiled by Nishith Desai Associates, a Mumbai-based law firm. The authors can be contacted at email@example.com. Readers should not act on the basis of this information without seeking professional legal advice.