Friday, 24 March 2017

Sweat Equity for Start-Ups

The Ministry of Corporate Affairs vide notification GSR 704 (E) dated 19.07.2016 has amended Companies (Share Capital and Debentures) Rules, 2014 to allow a startup company as defined in notification GSR number 100 (E) dated 17.02.2016 issued by Department of Industrial Policy and Promotion, to issue sweat equity shares not exceeding fifty per cent of its paid up capital upto five years from the date of its incorporation or registration.

This was stated by Shri Arjun Ram Meghwal, Minister of State for Corporate Affairs in written reply to a question in Lok Sabha today.


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