Hi Santosh
Here is the process below:
ESOP IN UNLISTED PUBLIC COMPANY AND PRIVATE COMPANY
Checklist for issue of ESOP in private company or unlisted public company:
1. Formation of Compensation Committee;
2. Authorisation to compensation committee for drafting ESOP scheme;
3. Compensation Committee will draft the scheme and present it to the board for their approval
4. After approving the scheme board will call EGM for approval of scheme by Shareholders;
5. Approval of ESOP Scheme by Shareholders
6. After approval of ESOP scheme by the shareholders Compensation Committee will grant options to the eligible employees;
7. Vesting of Option;
8. Exercise of Options;
9. Allotment of Shares.
Regards
CS DEEPAK SADHU