The Anup Engineering Limited has officially submitted the duly executed Trust Deed for the ‘Anup – Employee Stock Option Scheme 2019’. This action is in compliance with regulatory requirements concerning Share Based Employee Benefits. The Trust, named ‘Anup ESOP Trust’, has been established by the company for the purpose of administering and implementing the said stock option scheme for its employees.
Regulatory Compliance Achieved for Employee Stock Scheme
The Anup Engineering Limited has formalized the administrative structure for its employee benefit program by submitting the executed Trust Deed. This submission directly addresses the requirement under sub-regulation 3(3) of the relevant regulatory framework governing Share Based Employee Benefits and Sweat Equity.
Establishment of the Anup ESOP Trust
The document confirms the creation and execution of the Trust Deed for the ‘Anup ESOP Trust’. This Trust is specifically set up by the Company to manage and operationalize the ‘Anup – Employee Stock Option Scheme 2019’. The execution date mentioned for this primary corporate action is March 16, 2026.
Key Parties and Trust Constitution
The Trust Deed identifies the key parties involved in this arrangement. The Settlor is The Anup Engineering Limited, acting through its authorized representative, Mr. Binod Mandal. The Corporate Trustee appointed is MUFG Intime India Private Limited (formerly Link Intime India Private Limited).
Initial Corpus and Trust Purpose
As part of the settlement, the Settlor handed over an initial corpus amount of Rs. 10,000 (Rupees Ten Thousand Only), establishing the Trust Fund. The core purpose of the Trust is to administer, manage, and implement the ESOP Scheme, including acquiring and transferring Shares to eligible Beneficiaries based on the vesting and exercise of Options.
Trust Governance and Duration
The Trust is stipulated to be irrevocable. Trustees are granted broad powers to manage the Trust Property, adhering strictly to the Scheme provisions and Applicable Laws. Decisions within the Board of Trustees require a quorum of two Trustees (in case of individual trustees) or one (in case of a sole corporate trustee). The Trust Period commences on the Effective Date (March 16, 2026) and continues until the winding-up of the Settlor, termination of the Trust, or as determined by the Trustees with the Settlor’s consent.
Trustee Duties and Restrictions
Trustees are explicitly restricted from voting on Shares held by the Trust to prevent misuse of voting rights. Furthermore, they must act in the best interest of the Beneficiaries and are prohibited from undertaking derivative contracts or secondary market trading in Shares, except under specific, permitted circumstances detailed in the deed.
Source: BSE
