Securities And Exchange Board Of India - Subsection
Section 7(1) in Securities and Exchange Board of India (Issue of Sweat Equity) Regulations, 2002
(1)The price of sweat equity shares shall not be less than the higher of the following:(a)the average of the weekly high and low of the closing prices of the related equity shares during last six months preceding the relevant date; or(b)the average of the weekly high and low of the closing prices of the related equity shares during the two weeks preceding the relevant date.Explanation. - "Relevant date" for this purpose means the date which is thirty days prior to the date on which the meeting of the General Body of the shareholders is convened, in terms of clause (a) of sub section (1) of section 79A of the Companies Act.
