The respective provisions of the Companies Act and the Rules can be read in two perspectives i.e. provisions governing – Issue of ESOPs and Trust set-up, funding and operation for administration of ESOPs. The provisions relating to issue of ESOPs are common for all the unlisted Companies irrespective of their status being Private or Public; whereas the provisions on Trust set-up, funding, etc. are relevant for an unlisted Public Company which is dealt with in the later par
