Section 5 in Securities and Exchange Board of India (Issue of Sweat Equity) Regulations, 2002
5. Special Resolution.
(1)For the purposes of passing a special resolution under clause (a) of sub section (1) of Section 79A of the Companies Act, 1956 the explanatory statement to be annexed to the notice for the general meeting pursuant to section 173 of the Companies Act, 1956 shall contain disclosures as specified in the Schedule.(2)The issue of sweat equity shares to promoters shall be subject to the requirements specified in Regulation 6 of these Regulations.
