Lateral Placements after MBA

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I recently came across the term several college not having lateral placements,etc. I pondered what is lateral placements for an Indian B School student? A candidate with 23 months exp will be eligible for Lateral Placement? Are companies st...
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I recently came across the term several college not having lateral placements,etc. I pondered what is lateral placements for an Indian B School student?

A candidate with 23 months exp will be eligible for Lateral Placement?
Are companies strict about the minimum number of months for lateral placements?

If yes,23 months and 15 days is not eligible for a 24 month exp lateral placement?

Seniors,professionals - I really need to know this one to adjust my resignation date.

Also, are lateral placements just high paying or better profiles and responsibilities too? (apart from obviously,the candidates scores at the programme and his overall quality as a Manager)

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