Biocon Limited has officially notified stock exchanges regarding a modification to the Biocon India Limited Employees Welfare Trust Deed. This amendment, executed on March 27, 2026, primarily addresses a change in the composition of the Board of Trustees. Two existing trustees have resigned effective March 31, 2026, and two new trustees have been appointed effective April 1, 2026, in accordance with the trust’s regulations.
Biocon Announces Welfare Trust Amendment
Biocon Limited submitted documentation to both the BSE Limited and the National Stock Exchange of India Limited concerning a significant amendment to its Employees Welfare Trust Deed. This notification was made pursuant to applicable regulations governing share-based employee benefits.
Details of Trust Deed Modification
The document confirms that Amendment #7 was executed on March 27, 2026, further amending the Restated Trust Deed dated March 31, 2023. The core purpose of this change was to effect a change in the Trustees of the Trust.
Resignation of Existing Trustees
In accordance with Article 13 of the Trust Deed, the following trustees resigned from office effective from the close of business hours on March 31, 2026:
- Mr. Krishnachar Nandakumar
- Ms. Maninder Kapoor Puri
Appointment of New Trustees
Effective from April 01, 2026, two new trustees have been appointed through the mutual consent of the Settlor and the incoming members:
- Mr. Mukesh Kamath
- Mr. Naveen Narayanan
Updated Board Composition
As a result of these changes, Article 8 of the Trust Deed is being replaced entirely, stipulating that the Board of Trustees, effective April 01, 2026, shall exclusively consist of:
- Mr. Mukesh Kamath
- Mr. Naveen Narayanan
The Company Secretary and Compliance Officer, Rajesh U. Shanoy, signed the disclosure on behalf of Biocon Limited. A copy of the executed Amendment Deed is enclosed with the submission for official records.
Source: BSE
