Deed of Trust
Deed of Trust
Deed of Trust
on
hereinafter called as AUTHOR OF THE TRUST which expression shall wherever the context so permits mean and include its successors in-office of the ONE PART and; WHEREAS the AUTHOR OF THE TRUST decided to create and establish a Trust to make research in Alternative Medicine and Acupuncture for the welfare of the community at large without discrimination of caste. creed etc with ob ects and constitution as hereinafter set forth; WHEREAS the said ob ects in view! the AUTHOR OF TRUST have decided to endow the said TRUST a nucleus of "s. #"upees only$ in cash; and WHEREAS it is necessary and desirable to declare and constitute the said Trust and to record the ob ects and constitution of the said Trust. NOW THIS DEED OF DECLARTION OF TRUST WITNESSETH AS FOLLOWS; 1.TRUSTEES mean and include the %oard of Trustees as described in these presents! and these Trustees! as appointed! nominated or selected by the remaining members of the %oard of Trust whenever any vacancy arises. 2.CREATION OF THE TRUST: &n pursuance of the intention! the AUTHOR OF TRUST has settled the sum of "s.''''' by cash unto and in favour of the Trustees herein to be held by them for and on behalf of the Trust hereby created and known as the receipt of which sum of "s. which has already been handed over to the Trustees mentioned hereunder! is hereby acknowledged by the Trustees! who hereby accept the appointment as such Trustees of the said Trust! under the terms and conditions! set out hereunder for the fulfillment of the ob ects of the Trust! more fully and particularly described and set out hereunder. 3. REGISTERED OFFICE OF THE TRUST: The registered office of the Trust is situated at present at (o. 4.TRUSTEES: The AUTHOR OF THE TRUST has appointed the following persons to hold the office of the
Trust as Trustees) 5.1. MOTTO OF THE TRUST: The Motto of the Trust is 5.2. OBJECTS OF THE TRUST: The ob ects of the Trust are. 5.3.BENEFIT OF THE TRUST: The %enefits of the Trust are open to all irrespective of *aste! religion! race! sex etc. That the Trust will not carry on any activities with an intention of earning profit. . THE PROPERTIES OF THE TRUST The properties of the Trust shall be.#a$ the said sum of "s. acknowledged by the Trustees; above referred to the receipt of which is hereby
#b$ any properties movable or immovable! that may be ac+uired by the Trust either by purchase or otherwise; #c$ all additions and acceptations to the Trust fund; #d$ all voluntary donations both towards corpus or otherwise gifts! legacies or grants in cash or in kind accepted by the trustees; #e$ all grants and contributions made to the Trust by the ,overnment! ,overnment bodies! Trust or &nstitutions! Trade -nion or .ocieties etc; and #f$ all sums and assets which by and means become the property of the Trust.
!. "UALIFICATION OF THE TRUSTEES: The +ualification for the trustees shall be a$ /ne Trustee shall possess +ualification in alternative medicine or acupuncture; b$ /ne may be .pecialist in yoga therapy; c$ /ther trustees shall be social workers or professionals in the field of medicine or accounts or law. #. CESSATION OF TRUSTEESHIP:
A Trustee mentioned below shall cease to be the trustee of the Trust if)#a$ he resigns; #b$ he becomes insolvent; #c$ 1e is removed by the ma ority of the members of the! if it is found that the trustee#s$ activities are detrimental to the activities or administration or funds of the Trust $.APPOINTMENT OF TRUSTEES: Any vacancy in the %oard of Trustees shall be filled up by the remaining members of the Trust selecting a suitable person. 1%. ADMINISTRATION OF THE TRUST; The administration of the T"-.T shall vest with the %oard of Trustees! which consist of.a$ /ne Managing Trustee; b$ /ne 2oint Managing Trustee; c$ /ne 3eputy Managing Trustee and three trustees 11. POWER OF THE TRUSTEES; The %oard of Trustees shall have the control and management of the Trust and exercise the following powers) a$ To determine from time to time to commence and to take up the ob ect and purposes for which the funds of the trust shall be used and allot and allocate to each of the ob ects such portion of the funds as they deem fit; b$ To purchase and ac+uire any immovable property of any kind for this ob ect of the Trust or as a source of income for the Trust; c$ To sell! mortgage! or dispose of any immovable property4properties belonging to the Trust; d$ To incur all expenditure necessary as in their own opinion useful for carrying out the ob ects and administration of the trust; e$ To sell! lease! mortgage or dispose of any property! immovable property4properties belonging to the Trust5 f$ To open one or more bank accounts of the trust with any bank or banks as the Trustees may deem fit and deposit monies of the Trust in the %ank accounts. g$ To borrow for and on behalf of the Trust with or without security from banks! ,overnments! -niversities or any other government %ody4bodies both central and state; h$ to employ staff of all kinds necessary and useful for carrying out the ob ects of the trust. i$ To incur such other items of expenditure as is necessary and incidental for carrying out the ob ects of the Trust;
$ To institute! conduct! defend! compound! withdraw! compromise! ad ust! refer to arbitration or to do such things as are incidental and necessary! concerning the affairs of the Trust and to sign and verify vakalats! pleadings! affidavits and other powers5 k$ To delegate all or any of the powers vested in the Trustees to any body5 to frame rules! bylaws and other codes for the conduct of the affairs of the Trust and its transactions and establishing any *ommittee; l$ To accept contributions in cash or in kind either by way of addition to the trust funds generally or for any one or more of the specified ob ects of the Trust. m$ To establish as many adhoc committees for any purpose. 12. M&&'()*+ ,- '.& T/0+'&&+: a$ The Managing Trustee shall preside over all the meetings of the trustees and in his absence the 2oint Managing Trustee shall preside such meeting and in the absence of both! the trustees attended such meeting may elect any one of them to preside over the meeting; b$ The meetings of the Trustees may be convened by the Managing Trustee or under his direction by any other Trustees c$ The +uorum of the meeting of the Trustees shall be four personally present. d$ &n the event of e+uality of votes! the person presiding such meeting shall exercise casting vote #additional vote$. 13. RESOLUTIONS: a$ The Trustees may exercise all the powers vested in them in clause 7 under these presents by resolution passed at a simple ma ority of the trustees attended such meetings of the %oard of Trustees. b$ Any resolution in writing signed by all Trustees holding office for the time being shall be valid and binding.
14. SUITS: The Managing Trustee of the Trust is authori8ed to sue or to be sued on behalf of the Trust. 15. E1&20'(,) ,- D,203&)'+: All 3eeds! 3ocuments etc. shall be executed by the Managing Trustee! 2oint Managing Trustee and 3eputy Managing Trustee ointly representing the Trust. 1 . ACCOUNTS AND AUDIT: a$ The Trustees shall maintain true and correct accounts of all Trust monies and of all the income and investments and all the outgoing expenses.
b$ The year of account shall be the financial year commencing from :st A;"&< and ending 6:st March. c$ The Trustees shall each year issue a report setting out the accounts showing the income and expenditure of the Trust for the preceding year not later than six months from the end of the preceding year of accounts. d$ The accounts of the Trust shall be audited every year by a *hartered Accountant who may be appointed for the purpose by the board of Trustees and the audited statement of accounts together with Auditors5 report shall be laid before the %oard of Trustees for approval. 1!. BAN4 ACCOUNT: The Managing Trustee along with the 3eputy Managing Trustee shall operate bank account#s$ ointly. 1#. POWER TO ALTER RULES AND REGULATIONS: The %oard of Trustees shall have full power and authority to make! alter and rescind rules and regulations for the management and administration of the Trust. Any amendment to the Trust 3eed will be carried out only with the approval of the *ommissioner of &ncome Tax. 1$. APPLICATION OF INCOME AND TRUST FUND: The %oard of Trustees shall be empowered to invest the funds of the Trust in movable or immovable properties! in such manner as they deem fit for the purpose of the ob ects of the trust provided that such investments shall be in accordance with the provision of .ection :6#&$ read with .ection ::#=$ of the &ncome Tax Act! :7>: as well as of any other law for the time being in force as are applicable to charitable trusts. 2%. REMUNERTION TO THE TRUSTEES: The Trustees are not entitled for any remuneration. %ut they shall however be entitled to receive out of pocket expenses incurred by them in the course of discharging the functions of the Trust. ?urther the &ncome and funds of the Trust will be solely utili8ed towards the ob ects and no portion of it will be utili8ed for payment of Trustees by way profits! interest! dividend or otherwise. 21. INDEMNIT5: @very Trustee shall be indemnified out of the fund in respect of any loss arising from or contingent upon any investment made out of the monies of the Trust unless such loss shall have been occasioned by own negligence and also every Trustee shall be indemnified out of the Trust against all proceedings! suits! claims! costs! damages and expenses occasioned by any claim in connection with the matters or affairs
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relating to the Trust created by these presents or in the exercise of powers or discretion vested in them by virtue of these presents. 22. IRRE6OCABILIT5: The Trust is irrevocable. 23. ACTI6ITIES OF THE TRUST: The activities of the Trust shall be only within &ndia and its -nion territories and shall not be extended anywhere outside &ndia. 24. DISSOLUTION: /n dissolution of the Trust! the net assets of the Trust shall be transferred to an association of persons or trust or society having similar ob ects of this Trust. 25. PROCEEDING OF THE TRUST: Any defect in the constitution of the Trust shall not invalidate its proceedings 2 . RESIDUAR5: ?or matters not provided for in these presents! the provisions of the &ndian Trust Act and the &ncome Tax Act!:7>: and rules made there under will apply accordingly. &( A&T(@.. A1@"@/? T1@ A-T1/&" /? T1@ T"-.T 1A. .@T 1&. 1A(3 A(3 .&,(AT-"@ /( T1@ 3AB! M/(T1 A(3 B@A" ?&".T A%/C@ A"&TT@( &( T1@ ;"@.@(*@ /? WITNESSES: 7
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