Section 12(6) in Companies (Share Capital and Debentures) Rules, 2014
(6)(a)There shall be a minimum period of one year between the grant of options and vesting of option:Provided that in a case where options are granted by a company under its Employees Stock Option Scheme in lieu of options held by the same person under an Employees Stock Option Scheme in another company, which has merged or amalgamated with the first mentioned company, the period during which the options granted by the merging or amalgamating company were held by him shall be adjusted against the minimum vesting period required under this clause;(b)The company shall have the freedom to specify the lock-in period for the shares issued pursuant to exercise of option.(c)The Employees shall not have right to receive any dividend or to vote or in any manner enjoy the benefits of a shareholder in respect of option granted to them, till shares are issued on exercise of option.
