Securities And Exchange Board Of India - Subsection
Section 22(2) in Securities and Exchange Board of India (Share Based Employee Benefits) Regulations, 2014
(2)Shares issued under an ESPS shall be locked-in for a minimum period of one year from the date of allotment:Provided that in case where shares are allotted by a company under an ESPS in lieu of shares acquired by the same person under an ESPS in another company which has merged or amalgamated with the first mentioned company, the lock-in period already undergone in respect of shares of the transferor company shall be adjusted against the lock-in period required under this sub-regulation.
