Capital Markets regulator Sebi has forms an expert group to review the framework of share-based employee benefits and issue of sweat equity. The seven-member expert group would be chaired by Sandip Bhagat Partner at S&R Associates, an update with the Sebi showed. The expert group would revisit the framework of share-based employee benefits and suggest policy changes.

The panel has been mandated to revisit the framework of sweat equity regulations in respect of the Companies Act, and recommend any policy changes. They have to suggest whether it is advisable to combine both the regulations. In case, these norms can be combined, the panel would provide draft rules in this connection. In common, Sweat equity shares are issued by a company to its employees at a discount or for consideration other than cash.

The members of the panel consist of Santosh Haldankar, company secretary of HDFC Bank; Vikram Shroff of Nishith Desai Associates and Narayan Shankar, company secretary of Mahindra & Mahindra. In addition, Pavan Vijay, founder of Corporate Professionals; M Sanaulla Khan, company secretary of Wipro; and Sebi's Chief GM Jeevan Sonparote are also members of the panel.

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