Answer with reference to SEBI Regulations: Can a company allot sweat equity shares to an employee working outside India, who has been deputed outside India for last three years?

As per Regulation 29 of the SEBI (Share Based Employee Benefits and Sweat Equity) Regulations, 2021, the term 'employee' means: An employee of the company working in India or abroad; or A director of the company whether a whole-time director or not. Since an employee working outside India is also eligible for allotment of sweat equity shares, the company can allot sweat equity shares to an employee working outside India, who has been deputed outside India for the last three years.