Section 15 in Securities and Exchange Board of India (Issue of Sweat Equity) Regulations, 2002
15. Obligations of the Company.
(1)The company shall ensure that -(a)The explanatory statement to the notice for general meeting shall contain disclosures as are specified under clause (b) of sub section (1) of Section 79A and sub regulation (1) of Regulation 5.(b)The Auditor's certificate as required under Regulation 10 shall be placed in the general meeting of shareholders.(c)The company shall within seven days of the issue of sweat equity, issue or send statement to the exchange, disclosing:(i)number of sweat equity shares;(ii)price at which the sweat equity shares are issued;(iii)total amount invested in sweat equity shares;(iv)details of the persons to whom sweat equity shares are issued; and(v)the consequent changes in the capital structure and the shareholding pattern after and before the issues of sweat equity.
