Regulatory Alerts2025-12-04
Securities and Exchange Board of India (Share Based Employee Benefits and Sweat Equity) (Second Amendment) Regulations, 2025
The Securities and Exchange Board of India issued the Second Amendment Regulations, 2025, to modify the 2021 regulations governing share-based employee benefits and sweat equity. The amendments redefine 'valuer' to align with the Companies Act, 2013, and replace merchant bankers with independent registered valuers for valuation assignments, while allowing existing merchant banker assignments to be completed within nine months. These regulations came into force thirty days after their publication in the Official Gazette.
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