I have no idea whether any company in India has adopted an unrestricted leave policy. But in a country like India where the working hours, OT hours, weekly off, national and festival holidays are statutorily regulated, I do not think the concept of unrestricted leave facility fits into the work culture here. This policy may be in vogue in western countries, where the working hours, leave and holidays are free from regulation or less regulated and the employer is not bothered as to how long an employee is on leave so long as he finishes his job within dead lines.However a leave policy which leaves it to the discretion of the employee to enjoy his leave as per his needs within the given frame work of existing policies, may more agree with Indian work culture.
But it is interesting to hear other's views on this issue.
HR & Labour Relations Adviser