Dear Experts,
1. I would like to understand whether sweat equity shares (Section 79A) can be allotted for free of cost to the employees (like gift of shares free of cost) for an unlisted company
2. Is there a requirement of a scheme similar to ESOP
3. Does it amount to issue of shares at discount below face value which is not allowed as per the Companies Act
4. Does the above allotted shares form part of paid - up capital and subject to lock in
5. Suggest whether the above are trasferable and format of share certificate and draft scheme if any
Please Clarify.
CAclubindia
