One of my friend was working with Reliance Industries Limited (Textile Division-Ahmedabad) Since1975 and company alloted him ESOP shares in the year 2008. His first vesting was 2009 and first 10% he got from the total ESOP shares. The Second Vesting was April 2009 and company not given on that time and the second vesting taken place only in April 2010. My friend was retired from his long service in November 2009 and now company says he is not eligible for balance shares. The company given in writing to him that after retirement, he should take his balance shares with 12 months time. But now the management says RETIRED PERSONS ARE NOT ELIGIBLE FOR BALANCE SHARES. Please let me know is there is rule made by SEBI like that? Or what he should do for getting his balance shares. A line in confirmation will be highly appreciated.

Hi,

Reliance industry is doing good, it is safe to invest money in reliance share.

Regards,
sarah_9

Indian Stock Market