Trust Deed: trust made under the provision of indian trust

By | May 28, 2018

Certificate from the Co-Ordinator(S) Of The Project

TRUST DEED

THIS DEED OF DECLARATION OF TRUST MADE UNDER THE PROVISION OF INDIAN TRUST ACT NO.2 OF 1882 AND EXECUTED THIS DAY 25th OF MARCH 2013 BY AND BETWEEN

1.Sri. Mallayya Urf Shadakshari Swamigalu

S/o Guru Shivananda Swamigalu

R/o Chadchana Tq: Indi Dist: Bijapur

2. Sri. Dayananda Hirematha S/o Mallayya

R/o Chadchana Tq: Indi Dist: Bijapur

3. Sri. Siddayya S/o Kalyani Hiremath

R/o Chadchana Tq: Indi Dist Bijapur

4. Sri. Shantaveera Swami S/o Kumar Swami Hiremath

R/o Chadchana Tq: Indi Dist : Bijapur

5. Sri. Parvathi D Hirematha S/o Dayananda Swami

R/o Chadchana Tq: Indi Dist: Bijapur

(Hereinafter referred to as the FOUNDER TRUSTEES)

PREAMBLE:

  1. Whether the FOUNDERS of the TRUST are social workers, desirous or creating an educational, Medical,

General public utility and welfare Rural & Urban development TRUST, to carryout the objectives fully

described in the following clauses.

  1. Whereas, the purpose of creation of the TRUST by the FOUNDERS includes the relief of the poor,

dissemination of knowledge, Medical relief, Training cum production centers and the advancement of

any other of general public utility.

  1. Whereas, the FOUNDERS of the TRUST have made over to the FOUNDERS a sum of Rs.1000/(Rupees

One thousand only) and / or put them in effective control over the same.

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For investment thereof in some approved security and applies in income exclusively for the objects

hereunder mentioned.

  1. Whereas, the FOUNDER TRUSTEES have agreed, accept the same and own the TRUST properties

for the purpose and in the manner hereinafter appearing.

  1. NOW THIS DEED OF WITNESSETH AS UNDER:

CREATION OF TRUST:

a) Name : The name of the TRUST shall be SHREE VIRAKHATHAMATH TRUST ®

(Rural & Urban Development)

b) Address : The registered office of the TRUST for the percent shall be

R/o. EDUCATION ,SOCIAL, URBOAN & RURAL DEBELOPMENT TRUST,

CHADCHANA, Tq: Indi Dist : Bijapur However, the BOARD OF TRUSTEES herein may shift the registered office to any other place which

they feel convenient and also shall have the powers to open any number of branch offices wherever

necessary in Karnataka and all over India for the purpose of carrying out the objects of the TRUST.

c) OFFICE: The office hours of the TRUST shall be 9.30 AM to 4.30 PM in all

working days, subjected to change by the decision of the BOARD OF TRUSTEES at their

convenience.

OBJECTIVES OF TRUST:

    1. To promote, perform, assist works of charity for those in need irrespective of cast, Community or

creed for the total person in the total context of life at all levels with the right order of priorities.

2. To conduct rural education – both formula & non formula and vocational trainings along with

animation, motivation and organization of poor, landless agricultural laborers and illiterates.

3. To create awareness, training through cultural entertainment programs among rural and urban poor

women to enable them to participate in programs of other organization / institutions. Open libraries /

handicraft Training Centre to train and to provide skills for self – employment of both rural/urban poor

women.

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  1. To promote moral life of integrity.

  2. To engage in development activities aimed at improving the living conditions and general welfare of the

poor, handicapped, orphans, destitute and children.

  1. To do the same extent as natural persons might or could do to own or acquire, lease, rent, gift, grant, request, or otherwise from person, company, society, government or institution or anybody whatever, movable properties of all.

  2. To increase interest regarding folk literature, folk arts, organize symposium in order to alert rural/urban people and motivate

  3. The aims/objectives or based on the brotherhood of mankind and the love of India will be to promote

the spirit of secularism, patriotism, unity and integrity among various groups, castes and religious in the

society.

  1. To provide educational facilities for the public by establishing modern educational, culture and

vocational training institution like school, convents, colleges, industrial, technical, professional for the

advancement of knowledge, run hotels, residential schools and colleges under the TRUST

  1. To adopt village/villages to provide basic amenities to the poor, such as rural health centers, Drinking

water for human and animals. Adult education and non-formal education for men and women and prepare, plane and implement area development programs, particularly with a view to provide gainful employment to landless agricultural labors, small and marginal farmers rural Artisans and increase their knowledge in rural industries, irrigation, agriculture, sericulture, horticulture, afforest ration, water shed development, co-operation and in agro based vocational trainings, such as dairy, poultry, sheep and goat rearing and other needs for the development of such village/villages as integral and non-formal means.

  1. To implement programs for the improvement of village environment and facilities like rural roads, sanitation, low cost houses and form youth clubs woman self help groups provides leadership and skill development training, empowerment for the purpose of undertaking development action.

  2. To establish and maintain orphanages, destitute home, cottages, crèches, old age homes, hospitals and

provide medical facilities to rural and urban slum areas and encourage family planning.

  1. To establish and run cattle shelters, veterinary hospitals and provide medical facilities to cattle in rural

and urban area.

  1. To promote village arts, handicrafts, cottage and Khadi industries through khadi and village industries

commission and also from other sources in order to generate to income and employment opportunities

in the rural areas.

  1. To conduct of sponsor training programs, seminars, and workshops and to offer fellowships and

Scholarships to promote the objectives of the trust and to take up any other programs which further the

causes of rural development.

16. To establish add maintain residential hostels and boarding hostels for the deserving students in various

educational institutions (Government or Recognised).

17. To start and conduct schools or colleges to impart training in Fine Arts, such as music, Dancing, Acting,

Painting etc,

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  1. To door cause to be done such other activities as per conductive to the attainment of the aims and objects of the institutions described above.

  2. To collect funds for the institutions by way of donations, contributions, fees, scholarships, benefits, performances, exhibitions, grants, and such other aids either in cash or kind and to obtain financial assistance grant etc, from the state and central Governments and also foreign institutions or sources.

  3. To affiliate other institutions having similar aims and objects or activities.

  4. Activities for cultural programs that promote development by contributing to enhanced creativity

in community and group cohesior, cultural identity and provide projects for research and analysis that contribute to a broader understanding of development issues affecting poor and disadvantage groups.

  1. To prepare print and publish books, periodicals, pamphlets and other educative or publicity

materials for the usage of public.

  1. To secure loans/grants from NABARD, SIDBI, RMK KVIC and other financial institution for

the development of rural poor.

  1. To take over the management of any other public or charitable institutions, projects or branches

of any such institutions such terms conditions as the TRUSTEES shall think fit and to manage

the said institutions.

  1. To educate and organize poor woman, specially in mother and child care with nutrition food and

to form Self Help groups (SHGs) for empowerment through savings and thrift and to initiate

social issues and development programs for the welfare of woman.

  1. To acquire properties of any tenure mainly in the state of KARNATAKA and in any part of

INDIA.

  1. To start mental retardation school dump and duff school blind school & disable school in rural &

urban areas.

  1. To state community Rehabilitation programs for welfare of disabled mental Illness old age peoples in urban rural area.

  2. In initiate Bonded Labor, child Labor, Rehabilitation and welfare programs.

BENEFICIARIES OF TRUST

  1. The TRUST is established for the benefit of the citizens of India or the class mentioned in the

proceeding classes, without discrimination on the ground of sex, religion, Cast and Creed.

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PROPERTIES OF TRUST:

VII.

a. As corpus, the FUNDER TRUSTEES of the TRUST have contributed a sum of Rs. 1000/-

(Rupees one thousand only) for the purpose of mentioned in the objects at the time of formation

of the TRUST.

    1. Donation, subscription tie sheens and all the other amount received from the public, philanthropic

institution or from other sources under the TRUST.

    1. Properties, Movable/Immovable which may be acquired by the TRUST by purchase, exchange,

lease, grants, loans, gift of otherwise.

    1. Any other grants / aids that received from the Govt., Khadi board, Corporate body, other institutions

or voluntary funding agencies, whether in India or abroad for different projects.

e. Any profits out of activities of programs and / or investments are deposits of the TRUST.

INCOME AND FUNDS OF TRUST:

VIII. The TRUST funds and income may be invested in the following from or mode as given below.

      1. Investment in Govt. savings certificate.

      2. Deposit in any nationalized Schedule Bank or Post Office.

      3. Investment in any central or state Govt. security,

      4. Immovable property.

      5. Deposits or investments in any bonds for industries development/educational development on

INDIA and /or in any corporation approved by the Govt.

f). INCOME TAX CLAUSE:

  1. The funds of the TRUST shall be invested in the modes specified under the provisions of section

13(1) (d) r. w. s. 11(5) of the INCOME TAX ACT. 1961 as amended from time to time.

  1. There shall be maintained all accounts of the TRUST regularly. The accounts shall be duly audited

by the Chartered Accountant. Every year, the accounts shall be closed by 31st March.

  1. No amendments to the TRUST DEED shall be made which may prove to be repugnant to the

provisions of the sections. 2(15), 11, 12, 13 & 80(G) of the INCOME TAX ACT. 1961 has amended

from time to time.

Further no amendment shall be carried out without prior approved of the Commissioner of INCOME

TAX.

g. The funds and income of the TRUST shall be solely utilized for the achievement of its objectives no

Portion of it shall be utilized for payment of the TRUSTE ES by way of profit, interest, dividends, Etc.

  1. The benefits of the TRUST shall be open to all irrespective of caste, creed, or religion.

  2. The funds of the TRUST deposited in any bank or post office or corporation, as per the modes specified above, in the name of the TRUST mentioned and operate the same jointly by MANAGING TRUSTEE and SECRETARY. And subject in change by the decision of the BOARD OF TRUSTEES

at their convenience from time to time.

  1. The accounting year of the TRUST shall be from 1st of APRIL to MARCH of the year and the accounts of the TRUST shall be audited by any Chartered Accountant duly appointed by the BOARD OF

TRUSTEES.

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IX. 1. POWERS AND FUNCTIONS OF FOUNDER TRUSTEES:

The persons mentioned in the 1st page of this DEED.

1.Sri. Mallayya Urf Shadakshari Swamigalu

S/o Guru Shivananda Swamigalu

R/o Chadchana Tq: Indi Dist: Bijapur

2. Sri. Dayananda Hirematha S/o Mallayya

R/o Chadchana Tq: Indi Dist: Bijapur

3. Sri. Siddayya S/o Kalyani Hiremath

R/o Chadchana Tq: Indi Dist Bijapur

4. Sri. Shantaveera Swami S/o Kumar Swami Hiremath

R/o Chadchana Tq: Indi Dist : Bijapur

5. Sri. Parvathi D Hirematha S/o Dayananda Swami

R/o Chadchana Tq: Indi Dist: Bijapur

Shall be called the FOUNDER TRUSTEES and the shall be TRUSTEES for their life time and they shall meet at least once in Two months or as and when necessary to transact the activities of the TRUST.

  1. A FOUNDER TRUSTEE shall cease to be A TRUSTEE on any one or all of the following

grounds:

    1. If he/she is adjudged insolvent by a competent court of law.

    2. If he/she is convicted by the judiciary for any offence involving any criminal or moral turpitude

    3. By resolution passed by majority of the BOARD OF TRUSTEES if he/she found to be indulging

in the activities which are detrimental to the interest and/or contrary to the aims/objectives of the

TRUST.

    1. By resignation in writing to the BOARD OF TRUSTEES.

3. The FOUNDER TRUSTEE shall have the powers to nominate a successor shall become a TRUSTEE

for his/her choice and such nominated successor shall become a TRUSTEE for his/her life time, who in

turn shall have all the rights, powers and privileges similar to those exercised available to the numbers of

the BOARD OF TRUSTEES and to the FOUNDER TRUSTEES falling under sub-clause (c) of clause

IX (2) above.

4. When the office of a FOUNDER TRUSTEE become vacant by virtue of sub-clause a, b, & d only of

clause IX (2) above, the nominee of such a TRUSTEE shall entitle to succeed the FOUNDER TRUSTEE.

5. In the event of failure of any such nomination, the remaining TRUSTEES shall appoint as a TRUSTEE any

person of their choice by a resolution passed by the majority of the BOARD OF TRUSTEES.

TRUSTEES and such a TRUSTEE shall have the powers similar to those of the original FOUNDER TRUSTEE and his/her of office shall be 1year only. However, such nominee may continue as TRUSTEE at the discretion of the FOUNDER TRUSTEES.

6. The FONDER TRUSTEES shall have the powers to nominate members of the BOARD OF TRUSTEES

by majority decision passed in their meeting only.

7. The FOUNDER TRUSTEES shall look after the overall administration and control over all activities,

Programs, institutions and properties of the TRUST.

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  1. The FOUNDER TRUSTEES shall execute all the decisions, policies and programs formulated by the

BOARD OF TRUSTES.

  1. The FOUNDER TRUSTEES shall have the powers to entrust or fix up any work responsibility to any and or all the BOARD OF TRUSTEES and to appoint person/persons of their choice to carry out the programs and run the office of the TRUST,

10. The decision of the majority of the FOUNDER TRUSTEES shall be final in all matters of administration

of the properties of the TRUST.

11. All the meetings of the FOUNDER TRUSTEES shall presided over by the MANAGING TRUSTEE and

the quorum shall be THREE and in case of any equality of votes, the presiding person shall have a casting

vote and the notice for every meeting shall be served at least THREE days in advance and in case of any

urgency at least 24 hours earlier notice shall be given.

12. The FOUNDER TRUSTEES shall be responsible for the maintenance of accounts and various activities in

accordance with the stipulation setup herein and for fulfilling the objects of the TRUST and conduct the

affairs in accordance with the law.

13. The FOUNDER TRUSTEES shall receive any money or other assets, in any shape or form given by any

person(s) either Govt. or private or voluntary funding agencies as gift or donation and to hold the same as

part of the capital or corpus of the TRUST.

14. To secure on lease or purchase or otherwise, to sell, mortgage, transfer in any other manner whatsoever,

the properties of the TRUST in order to fulfill the objects.

15. To present the TRUST in all courts or before any authorities, Govt. departments, either in central or state

or in both or else by the MANAGING TRUSTEE of the TRUST.

16. To borrow for the purpose of the TRUST on credit with or without charge. Upon any of the assets of the

TRUST after obtaining the majority consent of the FOUNDER TRUSTEES.

17. To pay out of the funds of the TRUST, salaries, wages, rent, building maintenance, repairs and all other

expenses relating to the TRUST and its activities.

18. To appoint committees, sub-committees from among the members of the BOARD OF TRUSTEEA or

along with others and assign duties and seek suggestions for the purpose of working of the TRUST.

  1. To receive and collect funds for all or any of the objects of the TRUST or for promoting the objectives of

the TRUST specified above.

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BOARD OF TRUSTEES: FUNCTION AND POWERS:

IX. With a view to carrying our aims/objectives of the TRUST herein above mentioned and to argument it

activities and administer them, the BOARD OF TRUSTEES shall have the following powers:

The BOSRD OF TRUSTEES shall comprise the FOUNDER TRUSTEES and MEMBER TRUSTEES

nominated by FONDER TRUSTEES.

  1. The strength of the members in the BOADR OF TRUSTEES shall not be less than FIVE. They shall meet

once in a year in the month of MAY.

  1. The term office of the members of the BOARD OF TRUSTEE shall be 2years from the date of his/her

nomination.

  1. The BOARD OF TRUSTEES shall formulate the guideline, policies and programs of the TRUST.

  2. The members of the BOARD OF TRUSTEES may be continued in office at the discretion of the FONDER

TRUSTEES.

  1. The members of the BOARD OF TRUSTEES shall carryout the objects of the TRUST & also shall have

powered to supervise the various activities of the TRUST & give proper guidance and advice to the

concerned staff and bring it to the notice of the BOARD OF TRUSTEES in their meeting.

  1. The members of the BOARD OF TRUSTEES shall be the guardians of the constitution of the TRUST and

shall always protect the interests of the TRUST.

  1. The BOARD OF TRUSTEES shall have the powers to revise the progress of the TRUST from time to time.

  2. The nominated member of the BOARD OF TRUSTEES shall have no powers to nominate his/her successor

to the BOARD OF TRUSTEES.

  1. In case of any activities which is found to be detrimental to the interest of the TRUST, such member of the

BOARD OF TRUSTEES may be removed from the office of the TRUSTEES, by a resolution passed by

simple majority in the meeting of the BOARD OF TRUSTEES.

10, The quorum for the meeting of the BOARD OF TRUSTEES shall be 1/3(one third) of the total members

and every members shall be given at least 7 (seven) days notice In advance of the date of meeting.

  1. The MANAGING TRUSTEE shall preside over the meetings and in the absence; any other TRUSTEE selected amongst the present shall preside shall preside over the meeting of the BOARD OF TRUSTEES.

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OFFICE BEARERS OF THE TRUST:

X.

1. There shall be MANAGING TRUSTEE, SECRETARY AND TREASURER for the TRUST.

2. The office bearers of the TRUST shall be elected once in FIVE years from amongst the FOUNDER

MEMBER.

3. In case of voluntary retirement or death of any of the FOUDER TRUSTEES and if the remaining

FOUNDER TRUSTEES express their unwillingness to hold any such office the TRUST, in such

Circumstances, the nominee or the legal heir of the descended FOUDER TRUSTEES shall inherit

position, Privileges and powers of such FOUNDER TRUSTEES.

4. Any decision or action of any office bearer shall be endorsed by the majority of the FOUNDER

TRUSTEES.

5. The office bearers of the TRUST shall always function by unanimous decision in general and in case of

any Problem of difference of opinion, by mutual consent and/or in case of failure to arrive at any suitable

Solutions,

The FOUNDER TRUSTEES shall appoint a committee consisting of the members of BOARD OF TRUSTEES or/and any other person/persons acceptable to all, and the decision of such committee shall be binding on all the OFFICE BEARERS-FONDER TRUSTEES. However, all the matters shall be settled and governed by the provision under the INDIAN TRUST ACT No.2 of 1982.

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POWERS AND FUNCTIONS OF OFFICE BEARER

A. MANAGING TRUSTEE:

1. The Managing Trustee of the TRUST shall be custodian of the TRUST and he/she shall preside over

all the Meeting of the TRUST.

2. The Managing Trustee shall be the head of the TRUST and all other institution, properties and assets

held By the TRUST.

3. The Managing Trustee shall be the chief controlling authority over the administration and shall ensure

the Proper implementation of all the decision taken by the FOUNDER TRUSTEES and BOARD of

TRUSTEES.

4. All communications, decisions and orders relating to the TRUST shall be in the same of the

MANAGING TRUSTEE of the TRUST.

5. The Managing Trustee shall have the powers to sign and execute and/or all papers, documents and

Correspondence on behalf of the TRUST.

6. The Managing Trustee shall have the powers to appoint any enquire committee consisting a person or

Persons including any TRUSTEE and/or others, to enquire into incase of any complaint or

irregularities in The activities or functioning of any office bearer or any other Staff working under the

TRUST and to take action upon such report of the enquiry officer and/or of the Managing Trustee

shall be ratified by the majority of the FOUNDER TRUSTEES, and in occurrence with the general

rule of law.

B.SECRETARY:

1. The secretary of the Trust shall be responsible for the day-to-day administration of the TRUST and other

Institutions under the TRUST.

2. The secretary shall always protect the interests of the TRUST and translate into action the objects and

Aspirations of the TRUST from time-to-time.

3. The Secretary shall have the powers to call the meetings of the FOUNDER TRUSTEES and the BOARD

OF TRUSTEES.

4. The Secretary shall convene the meeting of the TRUSTEES at the request of any two Founder Trustees

And/or 1/3 (one third) of members of the Board of Trustees.

5. However, any action or decision of the Secretary shall be ratified by the majority of the Founder Trustees

in Their meeting.

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  1. TREASURER:

    1. The Treasurer of the TRUST shall always protect the interests of the TRUST and execute the objectives,

programs, activities and decisions of the Board of Trustees and Founder Trustees.

    1. The Treasurer shall supervise control the day-to-day affairs and management of funds of the TRUST.

    2. The treasurer shall ensure the proper utilization of funds and shall endorse all payments and receipts and

maintain all vouchers of the TRUST.

    1. The treasurer shall discharge any other duty or responsibility which may be entrusted to him/her by the

founder Trustees and the Board of Trustees from time-to-time.

REMUNERATION TO TRUSTEES:

  1. No Trustees shall claim remuneration for services rendered to the TRUST, but may reimburse

expenses incurred in the administration of the TRUST.

IRREVOCABLE:

  1. This TRUST is declared irrevocable.

TRANSFER OF PROPERTY AND DISSOLUTION:

XIII In the event of dissolution or windings up of the TRUST, the assets remaining on the dissolution shall

under no circumstance be distributed among the TRUSTEES, but the same shall be transferred to any other

PUBLIC CHARITABLE TRUST. Whose objects are similar to these of the TRUST and which enjoys

recognition under Sec. 80(G) of INCOME YAX ACT 1961.

IN WITNESS WHERE OF THIS DEED IS EXECUTED BY THE FOUNDER TRUSTEES IN THE PRESENCE OF THE WITNESS WHO HAVE ATTESTED TO IT ON THE 25th DAY OF MARCH TWO THOUSAND THIRTEEN STAMP DUTY IS PAID Rs. 500/- VALUE RECEIPT No.

Date

Managing Trustee

(Sri. Mallayya Urf shadakshari Swamigalu)

( President)

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FOUNDER TRUSTEES:

1.Sri. Mallayya Urf Shadakshari Swamigalu

S/o Guru Shivananda Swamigalu

R/o Chadchana Tq: Indi Dist: Bijapur

2. Sri. Dayananda Hirematha S/o Mallayya

R/o Chadchana Tq: Indi Dist: Bijapur

3. Sri. Siddayya S/o Kalyani Hiremath

R/o Chadchana Tq: Indi Dist Bijapur

4. Sri. Shantaveera Swami S/o Kumar Swami Hiremath

R/o Chadchana Tq: Indi Dist : Bijapur

5. Sri. Parvathi D Hirematha S/o Dayananda Swami

R/o Chadchana Tq: Indi Dist: Bijapur

WITNESS: SIGNATURE:

1)

2)

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