Securities And Exchange Board Of India - Subsection
Section 6(1) in Securities and Exchange Board of India (Issue of Sweat Equity) Regulations, 2002
(1)In case of Issue of sweat equity shares to promoters, the same shall also be approved by simple majority of the shareholders in General Meeting; Provided that for passing such resolution, voting through postal ballot as specified under Companies (Passing of the resolution by Postal Ballot) Rules, 2001 shall also be adopted;Provided further that the promoters to whom such Sweat Equity Shares are proposed to be issued shall not participate in such resolution.
