Strong Ltd. is contemplating to introduce Employees Stock Purchase Scheme (ESPS). As a Practising Company Secretary, advise the management on the following issues : (i) Whether directors of the company are eligible for E

A director of the company, whether a whole time director or not but excluding an independent director is eligible for the ESPS whereas an employee who is a promoter or a person belonging to the promoter group; or a director who either himself or through his relative or through any body corporate, directly or indirectly, holds more than ten percent of the outstanding equity shares of the company is not eligible for the ESPS.