TRUST DEED OF ABC TRUST
THIS DEED OF TRUST is executed today the __________ day of _________ 2010 by
Sh. ------------------- S.o Sh. -------------------------------- R/o ---------------------------------------------------. hereinafter called the SETTLOR / FOUNDER/ MANAGING
TRUSTEE (which expression shall, unless excluded by or repugnant to the context,
shall be deemed to include her legal heirs, successors, executors, administrators and
assigns)
WHEREAS THE SETTLOR IS DESIROUS of establishing a Public Charitable
Trust to develop, run and maintain Dharamshala, Charitable Dispensary, Ashram,
Places of Worship, Prayer Halls, Hospitals, Old Age Homes, Schools, Colleges and such
other similar charitable institutions in India for the benefit and use of general public at
large; for public charitable objects as per aims and objects of the trust.
AND WHEREAS it is necessary to declare the objects and terms of the Public
Charitable Trust, being constituted under these presents.
NOW THIS DEED OF TRUST WITNESSETH AS FOLLOWS
1. That, in order to effectuate this aforesaid desire, the SETTLOR has set apart and
handed over to the trustees the a sum or Rs.1,100/- (Rupees One thousand one
Hundred only) in Cash (Hereinafter called the 'Trust Fund' which expression shall
include cash and any other property or investments of any kind whatsoever into
which the same or any part thereof might be converted, invested or varied from
time to time, or which may be acquired by the trustees or may come to their hands
by virtue of these presents or by operation of law or otherwise howsoever in
relation to these presents), and the trustees shall hold and stand possessed of the
same upon the trust subject to the powers, provisions, agreements and
declarations hereinafter contained.
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2. The SETTLOR above named hereby establishes a Public Charitable Trust by the
name "ABC TRUST” with its Registered Office at ====================
or at such other place or places as the trustees may decide from time to time, for
the purpose and upon the conditions set forth hereunder.
3. That the following persons shall be the First Trustees of this Trust:
a) Shri --------------------------------------------------b) Smt. ------------------------------------------
4. The TRUSTEES named above have given their consent to be appointed as the
trustees and as token thereof, they have set their hands to this instrument.
5. The SETTLOR hereby conveys, transfers and assigns to the TRUSTEES a sum of
Rs.1,100/- (Rupees one thousand one hundred only) as corpus to the TRUST, the
possession of which the Trustees hereby admit and acknowledge, to have and to
hold the same in trust as corpus of the Trust, to be used by the Trustees to carry
out and fulfill the objects of the Trust set forth herein, and the SETTLOR of the
Trust hereby relinquishes for all time any claim to or interest in the said assets and
properties or fund forming the subject matter of the Trust.
6. The operational area of the Trust would be all over India.
7. Funds and Properties of the Trust: The Funds and Properties of the Trust shall
consist of the following:
a) Gifts/ Donations either in cash or in kind which may be made by any
philanthropic institutions/ persons or members of the public who are in
sympathy with the aims and objects set out herein including any donations
made for any such specified purpose or objects, from time to time.
b) Properties, whether movable or immovable, which may be acquired by the Trust
by purchase, exchange, lease, gift or otherwise from time to time.
c) Income and profits from the properties of the Trust.
d) Any fees, charges etc., as may be collected, in the course of any public or
private performance by the artists, services rendered etc.
The properties of the Trust shall be utilized for the objects set forth herein above
and subject to the provisions and conditions herein mentioned.
8. Utilization of Trust Funds and Properties: All the incomes, earnings,
movable/or immovable properties of the Trust shall be solely utilized and applied
towards the promotion of the Aims and Objects of the Trust only, as set forth in
this Trust Deed and no profit thereof shall be paid or transferred directly or
indirectly by way of dividends, bonus, profits or in any manner whatsoever to the
present or past Trustees of the Trust or to any person claiming through anyone or
more of the present or the past Trustees. No trustee shall have any personal claim
on any movable or immovable properties of the Trust or to make any profit,
whatsoever, by virtue of his Trusteeship. And the trust will invest money and funds
according to section 11(5) of the Income Tax Act 1961
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9. Aims & Objects: The aims and objects for which this trust is established are as
follows:
1) To grant relief and assistance to the needy victims during natural calamities
such as famine, earthquake, flood, fire, pestilence etc., and to give donations
and other assistance to institutions, establishments or persons engaged in such
relief work.
2) Construction and running of Schools/ colleges/ education institutions/ free
dispensaries/ Centres for feeding the poor and homes for the aged etc., for the
benefit of the public.
3) Providing grants/ scholarships/ fellowships and other forms of financial
assistance to the needy and deserving students for pursuing education,
vocational training, skill development etc.
4) Granting financial assistance to any educational institution for granting
scholarships, prizes, medals, awards for excellence in studies, sports and
scientific research, distribution of books and note books for poor and deserving
students.
5) Establishment, conduct, maintenance of clinical laboratories, hospitals, nursing
homes, dispensaries and institutions of similar nature and providing financial
assistance to the deserving persons for medical treatment, in any medical
institution.
6) Providing financial assistance for performing annadhanam and feeding the poor
directly and through other institutions.
7) Establishment, conduct, maintenance of old age homes, homes for physically
challenged men, women and children and persons with similar disabilities and
also for granting financial assistance to institutions performing similar activities.
8) Grant of donation to any Temple, Mosque, Church, Gurudwara and other places
of worship and / or religious institutions.
9) Providing for or contributing to education and scientific research and
development.
10) Providing relief to the poor and advancing any other object of general public
utility.
11) The Trust will not carry out any activities with the intention of earning profit and
will perform with service motive only.
12) Develop, run and maintain Ashram, Places of Worship, Dharamshala, Meditation
and Prayer Hall for the benefit and use of public at large
13) Provide free books, equipments, educational toys and or scholarship to
deserving students.
14) Feed poor students and to provide free/ subsidized student home/ hostel
facility.
15) Help and assist poor and deserving people in marriage.
16) Conduct seminars/ workshops and arrange special tuition/ training for students.
17) Provide assistance in setting-up and maintain charitable laboratories.
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18) Make donations to other public charitable trusts/ institutions recognized under
section 80-G of the Income Tax Act 1961.
19) Set-up and operate schools/ colleges for the benefit of public.
20) Conduct nutritional and health services. Conduct/ operate programmes for
providing nutritional assistance for example operate a school/ lunch/ food
programme for children, operate nutritional supplement programme for needy
women/ children which shall be provided free of charge.
21) Test diets from nutritional point of view before feeding the poor and deserving
people.
22) Render assistance to poor patients by providing medicines etc. Provision of
health care, preventive medical services, including dental services.
23) Provide assistance to hospitals in setting up the various facilities such as Blood
Bank, Eye Bank, Burn Centres etc., for poor patients.
24) Provide outdoor dispensary or assistance thereof and also to run Mobile Medical
Services.
25) Conduct education in health care or provide assistance in the provision of
primary health care education.
26) Set-up hospitals/ nursing homes for needy children/ women.
27) Conduct healthcare education and provide assistance in providing primary
health care education.
28) Render assistance to handicapped people.
29) Provide monetary assistance and social services in case of natural calamities.
30) Render financial assistance to the poor and disadvantaged.
31) Promote and advance moral education/ charity/ general welfare of the people.
32) Provide facilities for study/ medicines/ research and development in discipline of
Indian Yoga including Jain Agams to any person.
33) Carry out research work, whether at its own or in association with any
Government, Semi Government, Social, Charitable, Private or other entity
whether registered in India or elsewhere.
34) Start/ establish/ manage/ aid schools/ libraries/ relief camps to serve the
humanity or in any other manner what so ever as per Government rules.
35) The Trust shall NOT carry on any trade or business or take part in politics or
engage in any transaction with a view to the pecuniary gain or profit for the
members. No member shall have any personal claim o~ any property of the
institution and no part of the income or property of the institution shall be paid
directly or indirectly by way of dividend or bonus or otherwise howsoever by
way of profit to the member of the trust except in the case of, and as a salaried
officer of the institution.
36) Promote the welfare, development and education of the people mainly
disadvantaged and/ or mentally incapable and/ or physically handicapped. Also
provide them an opportunity to gain vocational experience, moral support and
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indulge them in various creative activities to make their lives livable and make
them self-dependent.
37) Inculcate essential values and ideas of ancient Indian culture and civilization
amongst the public.
38) Promote academic, mental, physical, cultural, artistic and aesthetic values and
spread/ improve moral standards, mutual respect for all religions, communal
harmony, spiritual studies and religious tolerance amongst the countrymen.
39) Create a strong understanding of humanity amongst the world community
through best possible efforts to give importance to AHIMSA by the way of all
possible system of communication and interactions like lectures from Indian
scholars preferably Saints/ Scholars and through some specified training
programmes and by making this practice compulsory in all the educational and
social programmes to be started so that required values could be in calculated
by them. By this way, they along with professionals can also be known as noble
personalities. This is the main aim of establishing this educational society and to
bring dream of our saints come true.
40) Provide legal aid to the poor and the handicapped and for the purpose enlist the
services of legal practitioners with or without remuneration.
41) Establish, collaborative relationships/ contacts/ links with Government
Authorities, Charitable Organizations and Individual institutions working in the
development of social field and related fields inside and outside of India, and to
receive any donations/ gifts/ contributions from them in cash or kind or
otherwise in accordance with prescribed rules.
42) Organize Conferences/ Seminars on varied subjects relating to the societal aims
including Indian religions and Heritage, Indian Culture, Indian Shamana and
Sanskrit, whether at its own or in association with other bodies, whether Indian
or abroad.
43) Undertake projects of any other Trust and/ or work in close collaboration with
Government/ Semi-Government/ Other Bodies falling in line with the objects of
the Trust and to sponsor and/ or initiate any arrangements or activities as well
as tend to promote the cause of the Trust and for promoting and supporting any
activities of Government/ Semi-Government/ Educational/ Charitable/ Other
Similar institutions operating in India and abroad in similar field.
44) Apply to Public Bodies, Government/ Municipal Authorities/ Universities/
Corporations/ Other Bodies/ Persons for and to accept grants or money and or
movable and/ or land/ buildings/ donations/ gifts/ trust funds and other
assistance and/ or borrow money for promoting the objects of the Trust, and to
expand/ utilize/ deal with the same in or for the purpose of achieving the aims
and objects of the Trust.
45) Purchase/ acquire/ own/ hold or take on lease or accept donations/ grants/ gifts
or procure lands/ buildings/ property/ machinery/ equipments/ apparatus/ or
other articles or things including all movable and/ or immovable properties
required for the efficient functioning of the Trust and for its purposes.
46) The trust may takeover other Trusts and Societies sharing similar objects and
aims; and/ or render assistance to them.
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47) Make gift and/ or sell/ transfer/ let-out/ lease-out, manage/ develop/ lease/
mortgage/ pledge/ dispose of or deal with all or any part of the immovable and/
or immovable properties and assets of the Trust.
48) Invest any money and funds of the Trust in such a manner as the Board of
Trustees may determine from time to time while being consistent with law and
for promoting its objects without any profit making purpose.
49) Undertake such other charitable object or objects of charitable purpose or
purposes including relief to the poor, education and medical relief, family
planning and advancement of such other lawful acts and things, as in the
opinion of the Board of Trustees, are incidental or conducive to the attainment
of the aims and objects of the Trust.
50) Pay/ settle and/ or disburse expenses/ fees/ costs and all payments for
implementation of the above objects.
51) Do such lawful acts/ matters/ deeds/ things that are incidental or conducive to
the attainment of the aforesaid objects.
52) All the Incomes/ Earnings, Moveable/ Immovable properties of the Trust shall
be solely utilized and applied towards the promotion of the objectives and aims
of the Trust as set forth in this deed. No profit thereof shall be paid or
transferred directly or indirectly by way of dividends/ bonus/ profits or in any
manner whatsoever to the present/ past/ future members of the Trust. They
shall NOT have any personal claim on any moveable or immoveable properties
of the Trust or make any profits, whatsoever, by virtue of their membership.
53) To take over the exiting trust with the name & style of “Shri Shyam Vaikunth
Dham”, Village Shyampur, Kangri, Haridwar, Uttranchal.
10. Trust Beneficiaries
The Trust is established for the benefit of citizens of India and the class of people
mentioned above without discrimination of caste, creed, religion, or sex.
11. Trustees, Term, Retirement and Power to Co-opt
a) The Trust will be managed by a Board of Trustees consisting of not less than 7
trustees and the further additions of Trustees at the sole discretion of the Managing
Trustee. The parties of this deed shall be the First Trustees and they shall
automatically form the Board of Trustees.
b) The first Managing Trustee shall be Shri Shyam Sunder Gupta and he will hold
office for his life time and nominate his successor either through will or otherwise.
After the demise or relinquishment of office of the Managing Trustee or in the event
of the first Managing Trustee failing to nominate his successor in office, the
remaining trustees shall elect one of the Trustees as Managing Trustee.
c) The term of office of First Trustees shall be for their respective lives and their blood
relations may succeed them, subject to recommendation by the Board of Trustees
and approval of the Managing Trustee. The Board of Trustees shall have the power
to increase the total number of Trustees up to a reasonable number and fix their
term as per provisions contained herein.
d) Any Trustee, including the Managing Trustee, may retire from the Trusteeship
hereof by giving one calendar months notice in writing of his or her intention to do
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so, to the Board of Trustees and after the expiry of the period of notice, the Trustee
giving the notice shall ipso facto cease to be a Trustee of these presents.
e) The Board of Trustees may propose co-option of new trustee from the blood
relation of retiring trustee, in case of vacancy caused by death/ incapacitation/
resignation of any of the First Trustees for adoption by the Managing Trustee.
f) The Trustees who are not First Managing Trustee or First Trustees shall hold office
for a period of one year from their date of appointment by the Board of Trustees.
At the end of this period, the Board of Trustees may recommend their
reappointment for subsequent term(s) or appointment of other persons as
Trustees, for approval of the Managing Trustee.
g) The proceedings of the Board of Trustees shall not in any way be invalidated due to
any post or posts remaining vacant. During the time when a vacancy is yet to be
filled up, the remaining Trustees shall act as "Full Board", subject to the presence
of Quorum in the meetings. Any vacancy in the Board of Trustees or illegality in the
appointment of Trustees or their proceedings shall not invalidate any prior act or
decision of the Board of Trustees.
h) A Trustee other than the Managing Trustee and First Trustee (and their Successors)
can be deemed to have retired by the Board of Trustees if (a) they do not attend
three consecutive meeting of the Board of Trustees without leave of absence or (b)
if they are requested to resign by 3/4th or as near thereto, as possible, of the
remaining Trustees.
12. Trust Administration and Powers of the Board of Trustees
A. Board of Trustees: The Board of Trustees shall have power to:
1)
Administer the Trust, its properties and affairs and do all the things which will
fulfill the performance of the objects for which the Trust is established and for
this purpose the Board can apply the whole or any part of the Trust property
towards the payment of the expenses of the Trust.
2)
Apply the income and the properties of the Trust solely utilized towards the
objects of the Trust and no portion of it will be utilized for payment to the
Settler, or Trustees or their relatives by way of salary, allowances, profit,
interest, dividend etc.
3)
Open one or more bank accounts and operate the same or provide for
operation of the said accounts by any two among them authorized on their
behalf, out of which one shall be the Managing Trustee.
4)
Invest the Trust funds in the manner not prohibited by any provisions of the
Income Tax Act, 1961.
5)
Buy, sell, mortgage, grant, lease, hire or otherwise alienate all or any of the
properties of the Trust in its discretion for adequate consideration,
6)
Execute power of attorney or powers of attorney to any person for the purpose
of executing, administering or managing the whole or any part of the Trust for
the purpose of all or some among the objects of the Trust.
7)
Borrow money with or without security and to repay the same.
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8)
Receive, collect and enforce recovery of all monies due or payable to the Trust
and grant receipts and discharges therefore.
9)
The Trust can receive contributions, whether in cash or kind, to further the
cause of the Trust from other Trusts and Societies sharing the same objects
and aims, and/ or create a Society for same objects and aims.
10) Settle compromise or compound any disputes or refer the same to arbitration
or litigation.
11) Receive voluntary contributions from any person or persons from India or
outside, after complying with the statutory formalities, by way of donation,
gifts or in any other manner and to hold the same upon Trust for the objects
set forth herein.
12) Appoint, suspend, dismiss or otherwise deal with the staff required for the
administration of the Trust, to frame rules relating to their salaries and other
benefits and generally to exercise all powers ancillary and incidental to
effectively carry out the objects of the Trust.
13) Make and rescind rules and
administration of the Trust.
regulations
for
the
management
and
14) No Trustee shall commit any act or breach of Trust of the Trust fund or
property or cause any loss to the Trust property or commit fraud in the
administration of the Trust fund / property.
15) Follow the instructions given by any donor who makes substantial contribution
towards furtherance of the objects of the Trust, so long as such instructions
are not detrimental to the attainment of the objects of the Trust and are in
conformity with the provisions of the Income-tax Act, 1961.
16)
Elect and assign respective roles amongst themselves for the management
and administration of the Trust. The term of office for office bearers shall be
for a period of one year from their date of appointment and they may be
reelected for further terms. No Trustee including the Managing Trustee shall
hold more than one office at the same time. The persons holding responsible
offices shall be under the administrative guidance and supervision of the
Managing Trustee and will report to him directly.
17) The Board of Trustees may sell the trust land and/ or building to procure
another land and/ or building of similar value for the objects of the Trust,
subject to the approval of the Managing Trustee.
18) Remove a Trustee suffering from physical or mental disability or if he is
accused of misfeasance of trust funds or property or misconduct, after
satisfying themselves, on enquiry and such action of the Board of Trustees
shall be final.
19) Remove any Trustee from the Trust and its offices, if the Board finds that his/
her activities are not congenial to the activities of the Trust.
20) Propose appointment of additional Trustee(s) for such period(s) or on such
terms as to retirement and re-appointment, as considered appropriate for
approval by the Managing Trustee.
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B. Roles, Responsibilities and Powers of Managing Trustee and Trustees
The Roles, Responsibilities and powers of all these officers are defined below.
a) Trustees
1) The Trustees shall jointly and severally make an earnest endeavor to pursue
objects of the Trust under the overall guidance and direction of the Managing
Trustee, maintain the dignity of the Trust through their good actions/ deeds,
and use their her influence to promote the activities of the Trust.
2) The Trustees shall hold honorary office and shall not be entitled receive any
remuneration (salary, allowances or perquisites), except for the reimbursement
of actual expenses incurred in connection with attending to the Trust matters or
their duties relating thereto.
3) The Trustees shall be accountable only for such moneys, stocks, shares and
funds as shall actually come into their hands and a Trustee shall not be
answerable or accountable for neglect, default, acts or omissions or
commissions of the other trustees, nor for any banker or other person with
whom the trust properties or any securities may have been deposited or kept.
b) Managing Trustee:
1) In addition to discharging normal duties of a trustee, the Managing Trustee
shall preside over meeting of the Board of Trustees. The Managing Trustee is
authorized to sign all documents, including bank documents, acknowledgements
for the contributions received, and agreements with individuals, Government
Institutions and other organizations, on behalf of the Board of Trustees. The
Managing Trustee shall have all the residuary powers, not explicitly assigned to
any of the other officers in these presents.
2) The Managing Trustee is authorized to sign along with another trustee bank
cheques, deposit release vouchers etc.
3) The Managing Trustee can delegate any of his/ her powers to any Trustee/
Trustees and would reserve the right to withdraw the same at any time.
4) The Managing Trustee may grant additional roles, responsibilities and powers to
any of the Trustees, from time to time, to carry out the aims and objectives of
the trust.
13. Meetings of the Board of Trustees
The Board of Trustees should meet at least once in every year and may meet more
often when required. The Board of Trustees may meet anytime, considering emergent
requirements.
1) The meeting of Board of Trustees shall be convened by the Managing Trustee
and he shall preside over the meetings. In his absence, the Managing Trustee
may authorize any trustee to be the Chairman of such meetings. In the event
the Managing Trustee is not able to attend the meeting already convened, any of
the Trustees present in the meeting may elect one amongst themselves to be
the Chairman of the meeting.
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2) One half of the Board of Trustees present or a minimum of two trustees,
whichever is higher, shall constitute the QUORUM for the Board of Trustee
meetings.
3) All decisions shall be carried out by the majority decision of the Board but in the
event of equality of votes, the Chairman presiding over the meeting shall have a
casting vote.
4) A written resolution passed by circulation and evidenced in writing under the
hands of two-thirds of the trustees, without a formal meeting of the Board of
Trustees, shall be as valid and effectual as a resolution duly passed at a meeting
of the Board of Trustees.
5) The meeting of the Board shall be conveyed after giving at least a week's notice
unless all the Trustees agree to accept a shorter notice.
6) The Board of Trustees may invite other persons interested in the objects and
functioning of the Trust to attend the meetings of the Board, but they shall not
be entitled vote in the meetings of the Board.
7) The Board of Trustees may, from time to time, frame rules for the conduct and
regulations of the meetings of trustees, in the absence of such regulations.
8) The Board of Trustees shall have the power to determine, in case of doubt,
whether any moneys or property shall for the purpose of the charity, be
considered as capital or income, and whether out of income or capital any
expenses, or outgoings ought to be paid or borne, and every such determination
shall be binding and conclusive provided that nothing contained shall be deemed
to authorize the Board of Trustees to spend the income or corpus of the Trust for
any purpose not authorized by these presents.
14. Bank Account(s)
The Managing Trustee and the Treasurer shall jointly operate Bank Accounts on behalf
of the Trust. In their absence, the Board of Trustees, by a resolution, may authorize
two specified trustees to operate the bank accounts. The trust may open one or more
Bank Accounts in any scheduled bank/ banks in the name of the Trust.
15. Investment of Trust Funds
1) The Board of Trustees shall have the power to invest the funds, assets and
properties of the Trust at their discretion in accordance with the provisions of the
Income Tax Act, 1961.
2) The Board shall also determine from time to time, the amount it shall spend on
the various activities of the Trust.
16.
Accounts and Audit
1) The Financial Year of the Trust shall be from 1 st April to 31st March of the
following year, unless otherwise decided by the Board of Trustees.
2) The Board of Trustees shall maintain true and fair accounts of the Trust.
3) The Annual Accounts of the Trust shall be audited by a Chartered Accountant
appointed by the Board of Trustees and the audited Statement of Account shall
be placed before the Board for its approval within three months of the close of
the Financial Year.
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17. Amendments
While this Trust shall be irrevocable, the Board of Trustees may amend any of the
clauses except those relating to objects of the Trust, the First Managing Trustee and
First Trustees, at a duly convened meeting of the Board with at least 2 weeks' notice,
and by a resolution passed by atleast three-fourths majority of the Board of Trustees
present and voting. The amendments to the Trust Deed can only be passed by a
resolution of the Board of Trustees in an actual meeting and not by circulation.
18. Indemnity
The Board of Trustees shall be indemnified for any act done by them in good faith in the
course of the administration of the Trust.
19. Settlor, Trustees and their Relatives
Notwithstanding the powers vested with the Trustees under the proceeding clauses, no
part of the income of the Trust shall benefit directly or indirectly the trustees and no
part of the income of the property of the Trust shall be used or applied directly or
indirectly for the benefit of:
a) SETTLOR, Managing Trustee, Trustees or any person who makes a
substantial contribution to the Trust or of any relative of the SETTLOR,
Managing Trustee, Trustees or the person who makes a substantial
contribution.
b) Any "related concern" in which any of the above persons has substantial
interest.
c) For the purpose of this clause, the word "relative" and the phrases "related
concern", "substantial interest" and "substantial contribution" shall have
the meanings assigned to them in the Income Tax Act, 1961.
20. Applicability of Trust Act
The provisions of the Indian Trust Act 1882 shall apply to all matters not specifically
mentioned in these presents.
21. Applicability of Income Tax Act:
All clauses herein are intended to secure exemption from Income Tax on the income of
contributions and donations to the Trust and any clause or portion of this Deed of Trust
which is inconsistent with or repugnant to the sections of the Income Tax Act, 1961 as
amended, substituted or modified from time to time, shall be deemed to be deleted or
modified with effect from the date on which the sections to which the clause or part of a
clause is repugnant or inconsistent comes into force.
22. This Trust is declared Irrevocable.
23. Dissolution
In the event of dissolution of the Trust, the entire Trust funds shall be realized and first
be used for payment of liabilities of the Trust. The assets left if any, shall be disbursed
to other Trusts or Associations having similar objectives and in no event it shall be
distributed in any manner, to any of the Board of Trustees or their relatives or related
concerns or Settlor.
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IN WITNESS WHEREOF THE SETTLER AND THE FIRST TRUSTEES here to
have set their hands on the day, month, and year first above written, in the presence of
the following witnesses:
Shri
(SETTLOR/ MANAGING TRUSTEE)
Witness:
1.
2.
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