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While having equity shares for your early employees can be a necessity as a startup founder from India, an exercise-priced ESOP might not be the way to go. Your employees might not have enough money to exercise them, or you as a company wouldn’t like the immediate dilution in your cap table. That’s why many startups move away from ESOPs towards other options such as RSUs and SARs. However, neither of these is separately defined by the Indian Company Law, and if they are incorrectly structured, it could lead to several compliance issues.   Here we are going to clarify the mechanism behind both RSUs and SARs of a private limited Indian company.   Why Startups Choose RSUs and SARs Over ESOPs ESOPs give a right to buy shares later at a fixed price. RSUs and SARs solve two different problems:   RSUs are a promise to give shares for free or at nominal value once vesting conditions are met. No purchase price is paid by the employee at grant. They work well for rewa...

The majority of the problems with the vendor-client relationship do not arise in a single instance of a breach. What arises is several minor differences between the two which add up. One party perceives the delivery date to be negotiable while the other views the quality standard to be quite clear. By the time the first invoice disagreement or rejection comes up, each has their own story regarding what was initially agreed upon. The Nature Of Such Contracts Most people seeking clarity on what a vendor agreement is start by asking what it is at its core. At its core, it is the documented agreement which serves to end both parties’ dependency on memory and good faith. What is included in this agreement? It will contain details of what is being delivered, the price of the item, the deadline, the quality and the repercussions of not meeting any of these.   The Indian Contract Act of 1872 provides the fundamentals regarding contract formation and breach. For contracts involving...

A charge sheet does not necessarily imply that the accused will go through the entire process of trial. Even before the prosecution proves its case, the court comes to an important point where it decides on the adequacy of legal grounds for the accused to undergo trial. The analysis of the stages of framing of charges in a criminal trial in India , thus, entails considering the nature of the case, the court and the relevant provisions of the Bharatiya Nagarik Suraksha Sanhita, 2023 (BNSS). What Does the Charge Stage Mean? Charging is an early judicial process that occurs before prosecution evidence in the trial commences. The judge evaluates the prosecution’s file to decide whether there is enough evidence to proceed with the case against the defendant.   It is crucial to separate the process of charging from one of establishing guilt. In case a charge is framed, the prosecution will still have to prove its case through evidence in the trial.   In Sessions cases,...