Section 22(3) in The Foreign Exchange Management (Transfer or Issue of any Foreign Security) Regulations, 2004
(3)[ An authorised dealer bank may allow the remittance by the person eligible to purchase the shares in terms of sub-regulation (2) for acquiring shares under ESOP Schemes, irrespective of the method of the operationalisation of the scheme: [Substituted by Notification No. G.S.R. 13 (E) dated 9.10.2007 (w.e.f. 19.11.2014)]Provided that the conditions specified in that sub-regulation are fulfilled.
