(1) The Sweat Equity shares shall be locked in for a period of three years from the date of allotment.
(2) The Securities and Exchange Board of India (Disclosures and Investor Protection) Guidelines, 2000 on public issue in terms of lock-in and computation of promoters’ contribution shall apply if a company makes a public issue after it has issued after it has issued sweat equity.
Listing.
13. The Sweat Equity issued by a listed company shall be eligible for listing only if such issues are in accordance with these regulations.
Applicability of Takeover.
14. Any acquisition of Sweat Equity Shares shall be subject to the provision of Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 1997.
CHAPTER III GENERAL OBLIGATIONS Obligations of the Company