Section 20 in Securities and Exchange Board of India (Share Based Employee Benefits) Regulations, 2014
20. Consequence of failure to exercise option.
- The amount payable by the employee, if any, at the time of grant of option,-(a)may be forfeited by the company if the option is not exercised by the employee within the exercise period; or(b)may be refunded to the employee if the options are not vested due to non-fulfilment of conditions relating to vesting of option as per the ESOS.
