Disclosures with respect to Employees Stock Option Scheme [ESOS]

deposits became due for repayment or renewal, as~s..as~ may be, according to the contract with the deposjtors or the provisions of th~ RBI directions, whichever may be applicable; and \
(ii) the amounts due to the~ depositors and remail!ing unclaimed or unpaid
beyond the dates referred in clause (i) above. ~
The RBI directions further lay down that th~ muaParticulars shall be furnished
with reference to position as on the last day of the financial year to which the report relates, and if the amounts remaining unclaimed or undisbursed, as referred in sub-clause (ii) above of the preceding clause, exceed in the aggregate the sum of Rs. 10 lakhs, there shall also be included in the report a statement on the steps taken or proposed to be taken by the Board of directors for the payment of the amounts due to the depositors and remaining unclaimed or undisbursed.
Disclosures with respect to Employees Stock Option Scheme [ESOS]
~SEBI guidelines with respect to employees stock option scheme, Directors'
report must contain the following disclosures:
(i) the total number of shares covered by the ESOS as approved by the
shareholders;
p!\ the pricing formula;
~ptions granted, options vested, options exercised, options forfeited, extin
guishment or modification of options, money realised by exercise of options, total number of options in force, employee-wise details of options granted to senior managerial personnel and to any other employee who receive a grant in anyone year of options amounting to 5% or more of options granted during that year.
(iv) Fully diluted earnings per share (EPS) computed in accordance with interna
tional accounting standards)
.../
Q 105t The Companies (Amendment) Act, 2000 has prescribed an additional duty on the Board of Directors to include in the Board's Report a 'Directors' Responsibility Statement'. Explain briefly the details to be furnished in the said statement.
[CA (Final) Nov, 2001]
.9l.ns. Please see IInder answer to Qllestiol1lO.
Q 11. What are the provisions under the Companies Act, 1956 regarding signing of Directors' Report?
i\ I .
Vt~ ~.
\
,,~., ... ( .
L
t
. ~
.9l.ns .
Signing of Directors' Report
As per sub-section (4) of Section 217 of the Companies Act, 1956, the Board's Report
is to be signed by the Chairman of the B9ard. In case the Chairman is not so authorised
by.the Boara, it shall be signed by such number of Directors as are required to sign the
balance sheet and the profit and loss account of the company as per Section 215.
Accordingly, the report of the Board of Directors is to be signed by the Chairman if so