Home Retail Indiabulls Retail launches employee stock option scheme; Lepps replaces Ikroop Singh

    Indiabulls Retail launches employee stock option scheme; Lepps replaces Ikroop Singh

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    Retail Services has launched its new employee stock option scheme under the name “ Retail Services Ltd Employees Stock Option Scheme – 2009″. The new scheme came after the company’s board of directors cancelled and withdrew Stock Option Plan, 2005 and 2006.

    The scheme will allow the grant of 15,00,000 stock options convertible into equal number of equity shares of face value Rs 10 each of the company, to its employees, said the company in a disclosure to .

    Further the disclosure revealed the appointment of Anil Lepps as whole-time director of the company, designated as ‘Chief Executive Officer’, for a period of five years with effect from January 06, 2009, without any remuneration, in place of Ikroop Singh, whole-time director who has resigned from the office with effect from January 06, 2009.

    — Shailesh Shah