Section 16(2) in Companies (Share Capital and Debentures) Rules, 2014
(2)The explanatory statement to be annexed to the notice of the general meeting to be convened pursuant to section 102 shall, in addition to the particulars mentioned in sub-rule (1) of rule 18, contain the following particulars, namely:-(a)the class of employees for whose benefit the scheme is being implemented and money is being provided for purchase of or subscription to shares;(b)the particulars of the trustee or employees in whose favour such shares are to be registered;(c)the particulars of trust and name, address, occupation and nationality of trustees and their relationship with the promoters, directors or key managerial personnel, if any;(d)the any interest of key managerial personnel, directors or promoters in such scheme or trust and effect thereof;(e)the detailed particulars of benefits which will accrue to the employees from the implementation of the scheme;(f)the details about who would exercise and how the voting rights in respect of the shares to be purchased or subscribed under the scheme would be exercised;
