What are the conditions for the Indian Company to allot sweat equity shares of its holding company to its employees, who are resident outside India.

Conditions for the Indian company to issue/allot sweat equity shares to its employees/directors or employees/directors of its holding company who are resident outside India, are as under: The scheme has been drawn either in terms of regulations issued under the Securities Exchange Board of India Act, 1992 or the Companies (Share Capital and Debentures) Rules, 2014 notified by the Central Government under the Companies Act 2013, as the case may be. The "sweat equity shares" issued to non-resident employees/directors under the applicable rules/regulations are in compliance with the sectoral cap applicable to the said company. Issue of "sweat equity shares" by a company where foreign investment is under the approval route shall require prior approval of Government of India. Issue of "sweat equity shares" under the applicable rules/regulations to an employee/director who is a citizen of Bangladesh/Pakistan shall require prior approval of the Government of India. The issuing company shall furnish to the Regional Office concerned of the Reserve Bank of India under whose jurisdiction the registered office of the company operates, within 30 days from the date of issue of employees' stock option or sweat equity shares, a return as per the Form-ESOP.