Section 12 in Securities and Exchange Board of India (Issue of Sweat Equity) Regulations, 2002
12. Lock-in of sweat equity shares.
(1)The Sweat Equity shares shall be locked in for a period of three years from the date of allotment.(2)The Securities and Exchange Board of India (Disclosures and Investor Protection) Guidelines, 2000 on public issue in terms of lock-in and computation of promoters' contribution shall apply if a company makes a public issue after it has issued after it has issued sweat equity.
