Prikshit is appointed as an independent director on the Board of PQR Ltd. The Company has issued ESOPs to Prikshit deeming him to be its employee. Answer the following: Whether Prikshit is entitled to receive the ESOPs (

Entitlement to ESOPs: Prikshit is not entitled to receive the ESOPs. Reason: As per Regulation 17(6)(d) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, independent directors are specifically not entitled to any stock option . The purpose of this provision is to maintain the independence of such directors and ensure that their decisions are not influenced by potential financial gains from stock options. Since Prikshit is an independent director, he cannot be issued ESOPs, even if the company deems him an employee for this purpose.