Thursday, Feb 10, 2005
Thursday, Feb 10, 2005 |
| Business | ||||
|
News:
Front Page |
National |
Tamil Nadu |
Andhra Pradesh |
Karnataka |
Kerala |
New Delhi |
Other States |
International |
Opinion |
Business |
Sport |
Miscellaneous |
Engagements |
Advts: Classifieds | Employment | Obituary | Business
MUMBAI, FEB. 9. In a bid to liberalise overseas investment, the Reserve Bank of India today allowed foreign companies to extend the employees stock option (ESOP) scheme to employees of companies where they had an indirect shareholding through a special purpose vehicle or a step down subsidiary as long as the foreign company's holding is not below 51 per cent. "Even in cases where the foreign company is offering its shares under ESOP and has an indirect shareholding in the Indian company through a special purpose vehicle or a step down subsidiary, no prior permission of the RBI would be required, as long as such holding is not less than 51 per cent,'' the RBI said in a notification here. At present, the RBI allows employees of the Indian branch or subsidiary to purchase stock options but the central bank's permission is required if the investment in the Indian subsidiary is made through a holding company or a special purpose vehicle. — PTI
Printer friendly
page
News:
Front Page |
National |
Tamil Nadu |
Andhra Pradesh |
Karnataka |
Kerala |
New Delhi |
Other States |
International |
Opinion |
Business |
Sport |
Miscellaneous |
Engagements |
|
|
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | Business Line | The Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2005, The
Hindu. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu
|
