Arvind Fashions Limited has submitted the duly executed Trust Deed for the AFL ESOP Trust to the stock exchanges. This submission is mandated under Regulation 3(3) of the SEBI (Share Based Employee Benefits and Sweat Equity) Regulations, 2021. The Trust has been established to administer and implement the company’s employee stock option schemes from 2016, 2022, and the recently introduced 2025 scheme. The document filing confirms the legal framework for managing these employee benefits programs.
Confirmation of Trust Deed Submission
Arvind Fashions Limited officially communicated the submission of the executed Trust Deed for the AFL ESOP Trust to both the BSE Limited and the National Stock Exchange of India Ltd. on March 18, 2026. This action aligns with the requirements of Regulation 3(3) of the SEBI (Share Based Employee Benefits and Sweat Equity) Regulations, 2021.
Purpose of the AFL ESOP Trust
The primary purpose of establishing this irrevocable trust is to effectively administer and implement the company’s employee benefit plans. Specifically, the Trust Deed covers the following schemes:
- ‘Arvind Fashions Limited – Employee Stock Option Scheme 2016‘
- ‘Arvind Fashions Limited – Employee Stock Option Scheme 2022‘
- ‘Arvind Fashions Limited – Employee Stock Option Scheme 2025‘
Key Parties Involved
The Trust Deed establishes the relationship between the primary parties:
- The Settlor: Arvind Fashions Limited, the company implementing the compensation plans.
- The Trustee(s): MUFG Intime India Private Limited (formerly Link Intime India Private Limited), appointed as the Corporate Trustee.
Governing Framework and Powers
The Trust Deed outlines the framework for operation, confirming that the Trust is irrevocable. The Settlor retains the power to amend the Trust Deed (subject to law and not prejudicing Beneficiary interests), while the Trustees are empowered to manage, administer, and fund the Trust Property, which includes an Initial Corpus of ₹10,000/- handed over by the Settlor.
Furthermore, subsequent resolutions confirm the authorization of various company officers to execute and manage the necessary formalities, including the appointment of MUFG Intime India Private Limited as the first Trustee and signatory.
Source: BSE
