Latest news with #EmployeeStockOptionPlan
Hindustan Times
8 hours ago
- Politics
- Hindustan Times
Advocates body seeks CJI intervention after ED issues summons to senior lawyers
The Supreme Court Advocates-on-Record Association (SCAORA) on Friday raised concerns over the Enforcement Directorate (ED) summoning yet another senior legal professional — this time, senior advocate Pratap Venugopal, and urged Chief Justice of India (CJI) Bhushan R Gavai to take immediate suo motu cognisance of what the body described as a serious infringement on the independence of the legal profession and lawyer-client confidentiality. Venugopal was the Advocate-on-Record (AoR) for a legal opinion rendered by senior counsel Arvind Datar that supported the allotment of the Employee Stock Option Plan (ESOP) by Care Health Insurance to former Religare Enterprises Chairperson Rashmi Saluja. While ED had earlier this month summoned Datar as well, that notice was subsequently withdrawn after protests from the legal fraternity. In a letter dated June 20, SCAORA President Vipin Nair termed the ED's action 'a deeply disquieting development,' cautioning that such coercive measures strike at the heart of legal privilege and the fundamental tenets of the rule of law. Venugopal, who was designated as a senior advocate earlier this year, received an ED summons on June 19 under Section 50 of the Prevention of Money Laundering Act (PMLA), 2002. The summons relates to the ongoing investigation into the ESOP matter. In its letter, SCAORA asserted that such actions amount to an 'impermissible transgression' of the sacrosanct principle of lawyer-client privilege. It warned that if left unchecked, this trend could have a chilling effect on the entire legal community, discouraging lawyers from rendering candid legal advice and undermining the independence of the Bar. 'The role of an advocate in offering legal advice is both privileged and protected. Interference by investigative agencies, particularly in respect of opinions rendered in a professional capacity—strikes at the core of the rule of law,' the letter stated. SCAORA urged the Supreme Court to intervene and examine the legality and propriety of issuing summonses to advocates for professional opinions, besides framing guidelines to prevent future incursions into lawyer-client confidentiality. This is the second time in recent days that the Association has raised its voice against such summonses. On June 16, SCAORA issued a public statement condemning the ED's notice to Datar, terming it 'unwarranted' and indicative of a growing trend of investigative overreach. On June 17, the Delhi High Court Bar Association also passed a resolution strongly criticising the ED's move, calling it a direct threat to the constitutional right to legal representation and fair trial. The Gujarat High Court Advocates Association too convened an emergency meeting the same day, with its president Brijesh Trivedi denouncing the ED's actions as violative of legal independence. The body demanded immediate government action to protect attorney-client privilege through statutory amendments to the Indian Evidence Act, 1872 and the Bharatiya Sakshya Adhiniyam, 2023.
Deccan Herald
4 days ago
- Business
- Deccan Herald
'Disturbing trend,' SCAORA condemns ED's summons against senior advocate Arvind Datar
The summons were reportedly issued to Datar in connection with the ED's investigation into the Employee Stock Option Plan (ESOP) granted by Care Health Insurance to former Religare Enterprises chairperson Rashmi Saluja.
Business Upturn
24-04-2025
- Business
- Business Upturn
PB Fintech invests Rs 539 crore in PB Healthcare; stake to reduce to 32.14% after external funding round
By Aditya Bhagchandani Published on April 24, 2025, 19:19 IST PB Fintech Limited, the parent company of Policybazaar, has announced a ₹539.40 crore investment in its wholly-owned subsidiary PB Healthcare Services Private Limited, as part of the first tranche of a seed funding round. The funding aligns with the company's earlier shareholder approval of up to ₹696 crore, secured through a postal ballot on April 15, 2025. The seed round totals ₹1,461.60 crore, with participation from PB Fintech and external investors. As a result of the fresh capital infusion and the creation of an Employee Stock Option Plan (ESOP) pool, PB Fintech's stake in PB Healthcare will reduce from 100% to 32.14% on a fully diluted basis. PB Healthcare, incorporated on January 1, 2025, operates in the healthcare and allied services sector. The investment aims to strengthen the subsidiary's financial foundation and support future growth. The funding was executed through the allotment of 5,39,40,000 Compulsory Convertible Preference Shares (CCPS) at ₹100 per share. The transaction is classified as a related-party deal but was conducted at fair market value, as determined by a registered valuer. PB Fintech stated that the dilution is a strategic step to bring in long-term investors and build a robust team via ESOPs. Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always consult a financial advisor before making investment decisions. Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
Yahoo
14-03-2025
- Business
- Yahoo
GDS Wealth Management Announces Three-Part Webinar Series for Navigating Your Corporate Financial & Retirement Benefits Plan
DALLAS, March 14, 2025 /PRNewswire/ -- GDS Wealth Management, a Flower Mound based wealth management firm, is thrilled to announce a three-part webinar series designed to help attendees make the most of their financial benefits and retirement plans. This event is perfect for current and former Lockheed Martin employees* and those working at organizations with comparable offerings. The webinar series will occur on three consecutive Wednesdays in March and April 2025, with all sessions held from 6:00 to 6:45 p.m. The first session, on March 19, will delve into various important facets of available pension plans, including monthly payout options, lump sum calculations, and key considerations such as health conditions and timing to help attendees make the best decisions for their retirement. Participants will discover how to maximize their savings, explore the mega backdoor Roth strategy, and understand distribution methods for retirement and in-service withdrawals. The second session, on March 26, will teach attendees about the Employee Stock Option Plan (ESOP). Attendees will learn how to make the most of their stock options, understand the benefits they offer, and discover the best strategies for exercising and managing them. The GDS team will also explore the flexibility and investment opportunities available through a Self-Directed Brokerage Account (SDBA), helping participants take full advantage of their investment choices. Finally, on April 2, GDS will provide insights into benefits and strategies for managing deferred compensation, helping attendees understand how to optimize their earnings for the future. Attendees will learn about healthcare in retirement, including coverage options, costs, and planning strategies. Whether you are just starting your career, planning for retirement, or already retired, these sessions will equip you with some of the tools and information you need to make confident financial decisions. How to Register Registration for this exclusive webinar series is now open. Secure your spot today by visiting or calling (469) 212-8072. *GDS Wealth Management is not affiliated with and does not endorse the opinions, products, or services of Lockheed Martin Corporation. To view a full list of disclosures and material risks, please visit Contact: gds@ View original content to download multimedia: SOURCE GDS Wealth Management Sign in to access your portfolio
Yahoo
06-02-2025
- Business
- Yahoo
ICEsoft Technologies Canada Corp. Provides Notice of Performance Stock Option Grants
Calgary, Alberta--(Newsfile Corp. - February 6, 2025) - ICEsoft Technologies Canada Corp. (CSE: ISFT) (the "Corporation" or the "Company" or "ICEsoft") is pleased to announce the issuance of options to purchase 5,500,000 shares of Common stock in the Company, subject to terms and conditions provide in the Company's Employee Stock Option Plan, approved September 24, 2015 and again as amended and restated on June 25, 2024. The options are being issued to: Name Position # Options Grant Date Expiry Date Strike Mr. Brian McKinney President & CEO 3,000,000 Feb. 5, 2025 Feb. 4, 2029 $0.05 Mr. Francis Shen Director 500,000 Feb. 5, 2025 Feb. 4, 2029 $0.05 Mr. Derrick Hunter Director 500,000 Feb. 5, 2025 Feb. 4, 2029 $0.05 Mr. Bruce Derrick Director 500,000 Feb. 5, 2025 Feb. 4, 2029 $0.05 Mr. Andrew Shen Observer 350,000 Feb. 5, 2025 Feb. 4, 2029 $0.05 Mr. Will Derrick Observer 350,000 Feb. 5, 2025 Feb. 4, 2029 $0.05 Mr. Colin Kay Observer 350,000 Feb. 5, 2025 Feb. 4, 2029 $0.05 The above options represent the total issue and outstanding options held by the above listed individuals. Previously issued options to Mr. McKinney (1,500,000), Mr. Hunter (150,000) and Mr. Derrick (150,000) have expired as of August 27, 2024 and April 8, 2024 and April 8, 2024 respectively. Further details may be found in Company filings of the Canadian Stock Exchange website at About ICEsoft Technologies Canada Corp.: ICEsoft Technologies Canada Corp. (CSE: ISFT) is a software as a service ("SaaS") company. For more information, please contact: Brian McKinneyChief Executive Officer Tel: 403-663-3320 Forward-Looking Information Advisory Certain information in this press release is forward-looking within the meaning of certain securities laws, and is subject to important risks, uncertainties and assumptions. This forward-looking information includes, among other things, information with respect to the Corporate Changes, Private Placement and shares for debt transactions, assumptions about future economic conditions and courses of action, and the Company's beliefs, plans, expectations, anticipations, estimates and intentions. The words "may", "could", "should", "would", "suspect", "outlook", "believe", "anticipate", "estimate", "expect", "intend", "plan", "target" and similar words and expressions are used to identify forward-looking information. The forward-looking information in this material change report describes the Company's expectations as of the date of this news release and accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. While the Company may elect to, it does not undertake to update this information at any particular time. NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRE SERVICES To view the source version of this press release, please visit
