About trust deed
This query is : Resolved
03 October 2013
Please Provide me trust deed format for Goshala/Gaushala/Cowshed.
04 October 2013
please provide me its urgent
04 October 2013
TRUST DEED
TRUST DEED
THIS INDENTURE OF TRUST is made at Meerut on this the 22nd day of April IN THE Christian year 2011 BY:
SHRI ............................ s/o ....................................... and resident of ..............................................;-hereinafter for the sake of brevity referred to as “SETTLOR” (Which expression shall, unless it be repugnant to the context or inconsistent with the meaning thereof, be deemed to mean and include his heirs, successors, assigns and legal representatives)-
IN FAVOUR OF:
1. SHRI ABC S/o Sri GCJ and resident of ...............................................;
2. SHRI XYZ S/o Sri RGT and resident of .................................................;-hereinafter for the sake of brevity referred to as “FIRST TRUSTEES”.
WHEREAS the settler had always a keen and earnest desire and craving to serve mankind without any distinction of colour, caste, community, creed, religion, race or sex.
AND WHEREAS the settler is possessed of and otherwise well and sufficiently entitled to the sum of Rs 1000 (Rupees one thousand only).
AND WHEREAS out of philanthropic, benevolent and other good, pious and noble causes moving him, the settler is desirous of settling the said money upon the trusts and subject to the powers and provisions hereinafter contained of concerning the same.
AND WHEREAS the FIRST TRUSTEES have agreed to become the FIRST TRUSTEES of these presents as is testified by their being parties to and executing these presents.
AND WHEREAS the said sum of Rs 1000/-(Rupees one thousand only).has in anticipation of these presents, been already transferred, paid and handed over to the First trustees in cash before the execution of these presents.
NOW, THIS INDENTURE OF TRUST RECORDS AND WITNESS AS FOLLOWS:-
1. DELIVERY OF TRUST FUND
That for effectuating the said desire and in consideration of the premises, the settler does hereby declare that he has, prior to the execution of these presents, paid, assigns, handed over and transferred unto the First Trustees the said sum of Rs 1000/-(Rupees one thousand only) in cash, the receipt whereof the First Trustees do and each of them does hereby admit and acknowledge.
2. POSSESSION OF THE TRUST PROPERTY
That the settler does hereby direct and the First trustees do hereby declare that they, the First Trustees, shall hold and stand possessed of the said sum of Rs 1000/-(Rupees one thousand only) hereinafter for the sake of brevity referred to as the ‘’TRUST FUND” (which expression shall also include cash and any other property and investment of any kind which may be acquired by the trust from time to time).
3. NAME
That the Trust shall be known as................................................... CHARITABLE TRUST (hereinafter for the sake of brevity referred to as the “TRUST”) and its principal Office shall be situated in the state of UTTAR PRADESH at ...................................................................
4. OBJECTS
THAT the objects for which the Trust is founded are:-
a) To form a nucleus of Universal Brotherhood of Humanity.
b) To carry on charitable and benevolent activities and projects including relief of poor, education, Legal Aid, medical relief, rural development and advancement of any other object of general public utility not involving the carrying on any activity for profit.
c) To establish, maintain and support or help charitable institutions and activities of any kind including:
i. Legal aid clinics or mediation centre or arbitration centre or any other establishment providing free legal aid.
ii. Anna Kshetra (Free Kitchen)
iii. Pathika Ashram (Pilgrim’s Home)
iv. Vriddha Ashram (Home for elderly people)
v. Arogya Ashram (Convalescent Home)
vi. Ashakta Ashram (Infirmary)
vii. Anatha Ashram (Orphanage)
viii. Bhikshu Griha (Begger’s Home)
ix. Gaushala (Home for cows)
x. Pausara (Drinking water Huts)
d) To establish, maintain and support or help schools, inter colleges, colleges, law colleges, medical colleges, research institutions and facilities for imparting and promoting education in any branch of knowledge.
e) To provide scholarships books etc to poor, needy and meritorious students.
f) To conduct, sponsor and organize lectures, meetings, conferences, seminars, symposiums, training camps, legal literacy programmes, courses, exhibitions, fairs, competitions and such other programmes and activities for the diffusion of knowledge.
g) To establish, maintain and support or help hospitals, dispensaries, clinics, maternity homes, nursing homes, and health centre’s, blood banks, eye banks, ambulance division, mobile dispensaries and any other kind of medical aid.
h) To organize relief works in times of flood, famine, fire, cyclone, earthquake, epidemic, riot, disaster, or natural calamity of any kind.
i) To organize relief camps and activities for needy, indigent, sick, disabled and distressed people.
j) To render financial assistance to needy people for marriage of their daughters or on other occasions.
k) To help in preserving and renovating old schools, hospitals, places of devotion and worship etc. as well as to provide means of support for their daily maintenance.
l) To establish such offices of institutions for the help and legal aid of needy people to legal service.
m) To establish or help in establishing institutions for the treatment and shelter of animals.
n) To publish and distribute healthy and useful literature for spiritual, legal awareness, moral and social upliftment of public at large.
o) To do in furtherance of the intention of the settler any charitable or benevolent work or any act of general public utility but not involving carrying on of any activity for profit whether or not the same is specified or enumerated or illustrated hereinabove.
p) To carry out or any of the aforesaid objects without any distinction of colour, caste, community, creed, religious, race or sex in any part of India or the world either as principal or through agents or in collaboration with universities, municipalities, district board, central and state government, religious or charitable or philanthropic trusts, institutions or organization or otherwise.
q) To pay over such part of income as the trustees may deem fit to any institution(s) or organization(s) for carrying out any one or more of the objects mentioned hereinabove.
r) To do all such things as are INCIDENTAL or conducive to the attainment of the above mentioned objects or any of them.
5. TRUSTS
That the board of trustees shall hold and stand possessed of the trust fund upon the following trusts namely:-
a) Collection of Income:
To manage the trust fund and to collect and recover interest, rent, profits, gains and income thereof.
b) Payment of Incidental Expenses:
To pay and apply the same in the first instance, from time to time, towards payment of proper costs, charges and expenses of and incidental to the collection thereof and the moneys required for the repairs, maintenance, insurance, taxes, wages, salaries of employees, outgoings and other charges in any way related to or connected with the trust property and management of the Trust Fund.
c) Appropriation:
That the appropriation of the income or corpus of the trust towards any one or more of the objects mentioned hereinabove shall be made by the board of trustees from time to time.
d) Utilization of Income/Corpus:
That the board of trustees shall be at liberty to utilize the income and/or the corpus of the trust for ANY ONE OR MORE of the objects as aforesaid and in such proportion as they may, in their absolute discretion think fit.
e) Accumulation:
If the income, inclusive of donations and contribution of a particular year, is not fully utilized for any one or more of the aforesaid objects, the board of trustees shall be entitled to accumulate and carry forward the unexpended income to the next year or years.
6. MANAGING TRUSTEE:
i. That Shri Siddharth Jain shall be the First Managing Trustee and he shall continue to be the Managing trustee of this trust for his life time. He shall be empowered to nominate any person as his successor to work as Managing Trustee after his lifetime.
ii. The Managing Trustee shall have the power and duty to supervise the activities of the trust and shall be the supreme authority of the trust.
7. TRUSTEES:
i. Board of trustees:
That the board of trustees shall mean and include the First Trustees of these presents, survivor of them and the trustees for the time being of these presents.
ii. Number of Trustees:
That the minimum number of the trustees shall be 2(Two) and the maximum number of the trustees shall be 20(twenty).
8. POWER OF BOARD OF TRUSTEES
WITHOUT RESTRICTING THE GENERALLY OF THE POWERS OF THE BOARD OF TRUSTEES, THE Board of Trustees shall be deemed to be empowered:
a. Holding of properties:
To hold and be possessed of the trust fund and its properties;
b. Donations:
To invite, raise, accept and receive donations, contributions, subscriptions, grants, gifts, benefactions etc. in cash or in kind or by way of movable or immovable properties for all or any of the objects of the Trust;
c. Nature of Receipts:
To determine, in case of any ambiguity or doubt, whether any money or property received be considered as capital or income and whether out of the income or capital any expenses or outgoing shall be paid or borne;
d. Immovable properties:
To buy and acquire or sell and dispose of any immovable property on such terms and conditions as it may think fit from time to time;
e. Investments:
To invest the trust fund and all moneys in their hands which may require investment in any mode or modes prescribed or permitted under the income tax Act/Rules and other applicable laws;
f. Safe custody of documents:
To deposit title deeds, securities, investments and other documentary relating to the trust fund or trust property for safe custody in a scheduled bank or banks and to make the necessary arrangements foe realization of interest or other income on investments of the trust through the bank;
g. Construction:
To construct, pull down, renovate, rebuild, improve, repair, maintain or insure any immovable property;
h. Endowments:
To create, set up, maintain, manage and support or help endowments trusts etc., whether set up and created by this trust or otherwise, for fulfillment or achievement of any one or more of the objects of the trust;
i. Granting donations:
To donate, whether in cash or in kind, any part of the trust property to any institution carrying out any one or more of the objects of the trust on such terms and conditions as it may think fit;
j. Granting loans:
To grants loans for any one or more of the purposes aforesaid and on such terms and conditions as it may think fit;
k. Borrowings:
To borrow and raise money from a scheduled bank or banks on the mortgage, hypothecation or pledge of the trust fund or any part thereof in such manner and on such terms and conditions as it may think fit;
l. Appointment of new trustees:
To appoint able, devoted and deserving persons dedicated to the objects of the trust as trustees;
m. Resignation by Trustees:
To consider and if deemed fit, to accept resignation tendered in writing by any of the Trustees;
n. Removal of Trustees:
To consider and if deemed fit, to remove, in its absolute and uncontrolled discretion, any trustee except managing trustee, from the office of the Trusteeship if the removal of such a trustee is considered to be in the interest of the Trust by the board of trustees;
o. Committees:
To appoint committees and sub-committees consisting of one or more trustees with such other social workers and persons to carry out such acts, deeds or things and subject to such powers and restrictions as it may think fit, and such committees or sub-committees shall be under the direct supervision and control of the board of trustees and the board of trustees may dissolve such committees or sub-committees from time to time.
p. Agents & attorneys:
To appoint, employ and remove any agent or attorney for the furtherance of the objects of the trust;
q. Employees:
To appoint, employ, suspend and remove secretaries, officers, clerks, servants and employees on such terms and conditions as it may think fit;
r. Bank Account:
To open, maintain and close in the NAME OF THE TRUST a savings/ current bank account with any scheduled bank and the same shall be operated by such person (s) and in such manner as may be decided from time to time by the board of trustees.
s. Bringing and defending actions:
To institute, conduct,defend,compound,compromise or abandon any legal proceedings by or against trust or otherwise concerning the affairs of the trust and to refer any claims or demands by or against the trust to arbitration and observe and perform any award made thereon;
t. Bye-Laws:
To make, amend, alter, or repeal such schemes, arrangements, laws, bye-laws, rules and regulations for the effective administration and management of the trust and its affairs as it may deem fit from time to time;
u. Amendment:
To amend any provisions of the trust deed; and
v. General:
To do such other acts and things as may be considered or calculated necessary, expedient or conductive to the attainment of the objects of Trust whether or not the same is specified or enumerate or illustrated hereinabove.
9. PROCCEDING AT MEETINGS
I. Chairman:
· That Shri Siddharth Jain a Managing trustee of the Trust shall be the First Chairman and shall preside over all the meetings of the board of trustees.
· In the event of absence of the chairman in a particular meeting of the board of trustees, the members of the board of trustees present thereat may choose any one of them to preside over that meeting.
II. Notice for meetings:
· A meeting of the board of trustees may be called by giving not less than 7(seven) days notice in writing. However in the event of an emergency, the meeting may be called after giving a shorter notice of 24 hours to all the trustees for the time being.
· The notice shall specify the date, time and place of meeting and shall briefly describe the business to be transacted at the meeting.
III. Quorum:
· Two trustees present in person shall form quorum for meetings of board of trustees.
· There shall be no right to appoint proxy.
IV. Resolutions:
Resolutions shall be decided unanimously or by a simple majority and in the vent of equality of votes, the chairman of the meeting shall be entitled to a second or casting vote.
V. Minutes:
That the minutes of all proceedings of the meetings of the board of trustees shall be recorded in a bound minute book.
10. AUDIT:
That the accounts of the trust shall be made up as on 31st march every year and shall be audited by a chartered accountant if required appointed as Auditor by the Board of Trustees.
11. IRREVOCABLE AND PUBLIC CHARITABLE TRUST
That the trust is hereby expressly declared to be irrevocable and a public charitable trust. In the event of dissolution or winding up of this trust, the trust fund shall be firstly utilized for repaying liabilities of the trust and the surplus shall not be paid to or distributed amongst the trustees but shall be given to some other trust or society or institution having objects similar to those of this trust.
IN WITNESS WHEREOF the settler and the trustees have hereunto set and subscribed their respective hands the day and year first above written:
NAME, ADDRESS AND
SIGNATURE OF WITNESSES SIGNATURE OF SETTLOR
1.
SIGNATURE OF TRUSTEES:
·
2
TRUST DEED
THIS INDENTURE OF TRUST is made at Meerut on this the 22nd day of April IN THE Christian year 2011 BY:
SHRI ............................ s/o ....................................... and resident of ..............................................;-hereinafter for the sake of brevity referred to as “SETTLOR” (Which expression shall, unless it be repugnant to the context or inconsistent with the meaning thereof, be deemed to mean and include his heirs, successors, assigns and legal representatives)-
IN FAVOUR OF:
1. SHRI ABC S/o Sri GCJ and resident of ...............................................;
2. SHRI XYZ S/o Sri RGT and resident of .................................................;-hereinafter for the sake of brevity referred to as “FIRST TRUSTEES”.
WHEREAS the settler had always a keen and earnest desire and craving to serve mankind without any distinction of colour, caste, community, creed, religion, race or sex.
AND WHEREAS the settler is possessed of and otherwise well and sufficiently entitled to the sum of Rs 1000 (Rupees one thousand only).
AND WHEREAS out of philanthropic, benevolent and other good, pious and noble causes moving him, the settler is desirous of settling the said money upon the trusts and subject to the powers and provisions hereinafter contained of concerning the same.
AND WHEREAS the FIRST TRUSTEES have agreed to become the FIRST TRUSTEES of these presents as is testified by their being parties to and executing these presents.
AND WHEREAS the said sum of Rs 1000/-(Rupees one thousand only).has in anticipation of these presents, been already transferred, paid and handed over to the First trustees in cash before the execution of these presents.
NOW, THIS INDENTURE OF TRUST RECORDS AND WITNESS AS FOLLOWS:-
1. DELIVERY OF TRUST FUND
That for effectuating the said desire and in consideration of the premises, the settler does hereby declare that he has, prior to the execution of these presents, paid, assigns, handed over and transferred unto the First Trustees the said sum of Rs 1000/-(Rupees one thousand only) in cash, the receipt whereof the First Trustees do and each of them does hereby admit and acknowledge.
2. POSSESSION OF THE TRUST PROPERTY
That the settler does hereby direct and the First trustees do hereby declare that they, the First Trustees, shall hold and stand possessed of the said sum of Rs 1000/-(Rupees one thousand only) hereinafter for the sake of brevity referred to as the ‘’TRUST FUND” (which expression shall also include cash and any other property and investment of any kind which may be acquired by the trust from time to time).
3. NAME
That the Trust shall be known as................................................... CHARITABLE TRUST (hereinafter for the sake of brevity referred to as the “TRUST”) and its principal Office shall be situated in the state of UTTAR PRADESH at ...................................................................
4. OBJECTS
THAT the objects for which the Trust is founded are:-
a) To form a nucleus of Universal Brotherhood of Humanity.
b) To carry on charitable and benevolent activities and projects including relief of poor, education, Legal Aid, medical relief, rural development and advancement of any other object of general public utility not involving the carrying on any activity for profit.
c) To establish, maintain and support or help charitable institutions and activities of any kind including:
i. Legal aid clinics or mediation centre or arbitration centre or any other establishment providing free legal aid.
ii. Anna Kshetra (Free Kitchen)
iii. Pathika Ashram (Pilgrim’s Home)
iv. Vriddha Ashram (Home for elderly people)
v. Arogya Ashram (Convalescent Home)
vi. Ashakta Ashram (Infirmary)
vii. Anatha Ashram (Orphanage)
viii. Bhikshu Griha (Begger’s Home)
ix. Gaushala (Home for cows)
x. Pausara (Drinking water Huts)
d) To establish, maintain and support or help schools, inter colleges, colleges, law colleges, medical colleges, research institutions and facilities for imparting and promoting education in any branch of knowledge.
e) To provide scholarships books etc to poor, needy and meritorious students.
f) To conduct, sponsor and organize lectures, meetings, conferences, seminars, symposiums, training camps, legal literacy programmes, courses, exhibitions, fairs, competitions and such other programmes and activities for the diffusion of knowledge.
g) To establish, maintain and support or help hospitals, dispensaries, clinics, maternity homes, nursing homes, and health centre’s, blood banks, eye banks, ambulance division, mobile dispensaries and any other kind of medical aid.
h) To organize relief works in times of flood, famine, fire, cyclone, earthquake, epidemic, riot, disaster, or natural calamity of any kind.
i) To organize relief camps and activities for needy, indigent, sick, disabled and distressed people.
j) To render financial assistance to needy people for marriage of their daughters or on other occasions.
k) To help in preserving and renovating old schools, hospitals, places of devotion and worship etc. as well as to provide means of support for their daily maintenance.
l) To establish such offices of institutions for the help and legal aid of needy people to legal service.
m) To establish or help in establishing institutions for the treatment and shelter of animals.
n) To publish and distribute healthy and useful literature for spiritual, legal awareness, moral and social upliftment of public at large.
o) To do in furtherance of the intention of the settler any charitable or benevolent work or any act of general public utility but not involving carrying on of any activity for profit whether or not the same is specified or enumerated or illustrated hereinabove.
p) To carry out or any of the aforesaid objects without any distinction of colour, caste, community, creed, religious, race or sex in any part of India or the world either as principal or through agents or in collaboration with universities, municipalities, district board, central and state government, religious or charitable or philanthropic trusts, institutions or organization or otherwise.
q) To pay over such part of income as the trustees may deem fit to any institution(s) or organization(s) for carrying out any one or more of the objects mentioned hereinabove.
r) To do all such things as are INCIDENTAL or conducive to the attainment of the above mentioned objects or any of them.
5. TRUSTS
That the board of trustees shall hold and stand possessed of the trust fund upon the following trusts namely:-
a) Collection of Income:
To manage the trust fund and to collect and recover interest, rent, profits, gains and income thereof.
b) Payment of Incidental Expenses:
To pay and apply the same in the first instance, from time to time, towards payment of proper costs, charges and expenses of and incidental to the collection thereof and the moneys required for the repairs, maintenance, insurance, taxes, wages, salaries of employees, outgoings and other charges in any way related to or connected with the trust property and management of the Trust Fund.
c) Appropriation:
That the appropriation of the income or corpus of the trust towards any one or more of the objects mentioned hereinabove shall be made by the board of trustees from time to time.
d) Utilization of Income/Corpus:
That the board of trustees shall be at liberty to utilize the income and/or the corpus of the trust for ANY ONE OR MORE of the objects as aforesaid and in such proportion as they may, in their absolute discretion think fit.
e) Accumulation:
If the income, inclusive of donations and contribution of a particular year, is not fully utilized for any one or more of the aforesaid objects, the board of trustees shall be entitled to accumulate and carry forward the unexpended income to the next year or years.
6. MANAGING TRUSTEE:
i. That Shri Siddharth Jain shall be the First Managing Trustee and he shall continue to be the Managing trustee of this trust for his life time. He shall be empowered to nominate any person as his successor to work as Managing Trustee after his lifetime.
ii. The Managing Trustee shall have the power and duty to supervise the activities of the trust and shall be the supreme authority of the trust.
7. TRUSTEES:
i. Board of trustees:
That the board of trustees shall mean and include the First Trustees of these presents, survivor of them and the trustees for the time being of these presents.
ii. Number of Trustees:
That the minimum number of the trustees shall be 2(Two) and the maximum number of the trustees shall be 20(twenty).
8. POWER OF BOARD OF TRUSTEES
WITHOUT RESTRICTING THE GENERALLY OF THE POWERS OF THE BOARD OF TRUSTEES, THE Board of Trustees shall be deemed to be empowered:
a. Holding of properties:
To hold and be possessed of the trust fund and its properties;
b. Donations:
To invite, raise, accept and receive donations, contributions, subscriptions, grants, gifts, benefactions etc. in cash or in kind or by way of movable or immovable properties for all or any of the objects of the Trust;
c. Nature of Receipts:
To determine, in case of any ambiguity or doubt, whether any money or property received be considered as capital or income and whether out of the income or capital any expenses or outgoing shall be paid or borne;
d. Immovable properties:
To buy and acquire or sell and dispose of any immovable property on such terms and conditions as it may think fit from time to time;
e. Investments:
To invest the trust fund and all moneys in their hands which may require investment in any mode or modes prescribed or permitted under the income tax Act/Rules and other applicable laws;
f. Safe custody of documents:
To deposit title deeds, securities, investments and other documentary relating to the trust fund or trust property for safe custody in a scheduled bank or banks and to make the necessary arrangements foe realization of interest or other income on investments of the trust through the bank;
g. Construction:
To construct, pull down, renovate, rebuild, improve, repair, maintain or insure any immovable property;
h. Endowments:
To create, set up, maintain, manage and support or help endowments trusts etc., whether set up and created by this trust or otherwise, for fulfillment or achievement of any one or more of the objects of the trust;
i. Granting donations:
To donate, whether in cash or in kind, any part of the trust property to any institution carrying out any one or more of the objects of the trust on such terms and conditions as it may think fit;
j. Granting loans:
To grants loans for any one or more of the purposes aforesaid and on such terms and conditions as it may think fit;
k. Borrowings:
To borrow and raise money from a scheduled bank or banks on the mortgage, hypothecation or pledge of the trust fund or any part thereof in such manner and on such terms and conditions as it may think fit;
l. Appointment of new trustees:
To appoint able, devoted and deserving persons dedicated to the objects of the trust as trustees;
m. Resignation by Trustees:
To consider and if deemed fit, to accept resignation tendered in writing by any of the Trustees;
n. Removal of Trustees:
To consider and if deemed fit, to remove, in its absolute and uncontrolled discretion, any trustee except managing trustee, from the office of the Trusteeship if the removal of such a trustee is considered to be in the interest of the Trust by the board of trustees;
o. Committees:
To appoint committees and sub-committees consisting of one or more trustees with such other social workers and persons to carry out such acts, deeds or things and subject to such powers and restrictions as it may think fit, and such committees or sub-committees shall be under the direct supervision and control of the board of trustees and the board of trustees may dissolve such committees or sub-committees from time to time.
p. Agents & attorneys:
To appoint, employ and remove any agent or attorney for the furtherance of the objects of the trust;
q. Employees:
To appoint, employ, suspend and remove secretaries, officers, clerks, servants and employees on such terms and conditions as it may think fit;
r. Bank Account:
To open, maintain and close in the NAME OF THE TRUST a savings/ current bank account with any scheduled bank and the same shall be operated by such person (s) and in such manner as may be decided from time to time by the board of trustees.
s. Bringing and defending actions:
To institute, conduct,defend,compound,compromise or abandon any legal proceedings by or against trust or otherwise concerning the affairs of the trust and to refer any claims or demands by or against the trust to arbitration and observe and perform any award made thereon;
t. Bye-Laws:
To make, amend, alter, or repeal such schemes, arrangements, laws, bye-laws, rules and regulations for the effective administration and management of the trust and its affairs as it may deem fit from time to time;
u. Amendment:
To amend any provisions of the trust deed; and
v. General:
To do such other acts and things as may be considered or calculated necessary, expedient or conductive to the attainment of the objects of Trust whether or not the same is specified or enumerate or illustrated hereinabove.
9. PROCCEDING AT MEETINGS
I. Chairman:
· That Shri Siddharth Jain a Managing trustee of the Trust shall be the First Chairman and shall preside over all the meetings of the board of trustees.
· In the event of absence of the chairman in a particular meeting of the board of trustees, the members of the board of trustees present thereat may choose any one of them to preside over that meeting.
II. Notice for meetings:
· A meeting of the board of trustees may be called by giving not less than 7(seven) days notice in writing. However in the event of an emergency, the meeting may be called after giving a shorter notice of 24 hours to all the trustees for the time being.
· The notice shall specify the date, time and place of meeting and shall briefly describe the business to be transacted at the meeting.
III. Quorum:
· Two trustees present in person shall form quorum for meetings of board of trustees.
· There shall be no right to appoint proxy.
IV. Resolutions:
Resolutions shall be decided unanimously or by a simple majority and in the vent of equality of votes, the chairman of the meeting shall be entitled to a second or casting vote.
V. Minutes:
That the minutes of all proceedings of the meetings of the board of trustees shall be recorded in a bound minute book.
10. AUDIT:
That the accounts of the trust shall be made up as on 31st march every year and shall be audited by a chartered accountant if required appointed as Auditor by the Board of Trustees.
11. IRREVOCABLE AND PUBLIC CHARITABLE TRUST
That the trust is hereby expressly declared to be irrevocable and a public charitable trust. In the event of dissolution or winding up of this trust, the trust fund shall be firstly utilized for repaying liabilities of the trust and the surplus shall not be paid to or distributed amongst the trustees but shall be given to some other trust or society or institution having objects similar to those of this trust.
IN WITNESS WHEREOF the settler and the trustees have hereunto set and subscribed their respective hands the day and year first above written:
NAME, ADDRESS AND
SIGNATURE OF WITNESSES SIGNATURE OF SETTLOR
1.
SIGNATURE OF TRUSTEES:
·
2
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