Trust Deed - Praveen

Download as docx, pdf, or txt
Download as docx, pdf, or txt
You are on page 1of 7

DEED OF DECLARATION OF THE TRUST

This deed of trust is made on 01 st day of June 2021 by Praveen Kumar son of
Ravichandran Murugesan, aged 27 years residing at 1/383 Egambaram Street,
Kadambathur Village - 631203, Thiruvallur Taluk and District, hereinafter called
“THE AUTHOR / FOUNDER” on the one part and :
1.Ravichandran Son of Murugesan residing at No.1/470 Bazaar Street,
Kadambathur-631 203, Thiruvallur Taluk & District.
2.Pavithra daughter of Vimalanathan at No./184 Palla Street, Nathapettai - 631
631, Kancheepuram Taluk & District
3.Karthick son of Ravichandran Murugesan, aged 30 years residing at 1/383
Egambaram Street, Kadambathur Village - 631203, Thiruvallur Taluk and District
4.Parthiban Son of Shanmugam residing at No.2/142 Mettu Street,
Kasavanalathur, Kadambathur - 631203, Thiruvallur Taluk and District,
5.R.VENKATESAN Son of Balasubramaniyam, residing at Big Street,
Kadambathur-631 203, Thiruvallur Taluk & District

ANDWHEREAS the author is desirous of creating the Trust for a sum of


Rs.10,000/- (Rupees Ten One Thousand Only) upon the trustees to carry on the
objectives specified below.

ANDWHEREAS the author has endorsed in favor of and delivered to the Trustees
a sum of Rs.10,000/- to hold the same in Trust for the said author subject to the
powers and provisions and scheme hereinafter declared and expressed.

1.NOW THE DEED OF TRUST WITNESSES AS FOLLOWS:


1. The name of the trust shall be “ MANATHUKINIYAN ”
2. The Registered office of the trust is situated at 1/383 Egambaram Street,
Kadambathur Village - 631203, Thiruvallur Taluk and District and it may be
shifted to any other place from time to time in need of the trustees.

2.THE PRINCIPAL OBJECTS OF THE TRUST ARE:

1. To perform regular poojas and other ancillary allied works towards the welfare
of the temples.
2. To plant saplings of trees and flower plants of every type in the neighborhood
areas and also in and around buildings of monuments and ancient structures.

5.BENEFICIARIES

The benefit of the Trust shall be open to all irrespective of caste, creed, religion,
region or sex etc. The activities of the trust may be carried out anywhere in India.
No activities of the Trust shall be carried out anywhere outside India.
3.CONSTITUTION OF BOARD OF TRUSTEES:

(a) The board of trustees shall consist of Five persons which may also extend not
more than 7 persons
(b) At present the board of trustees shall consist of the above four following
persons
(c) presently the Author/founder is the managing Trustee and shall have over all
control of the day to day affairs of the trust.
(d) Till the life time of the Author / managing trustee at his option after his period
the other trustees will elect the Managing Trustee .
(e) The office of the Managing Trustee will be Three years after the expiry of the
said period the trustees are eligible for re-appointment.
(f) All the appointments of Trustees/Managing Trustee shall be decided at the
meeting of the board of Trustees by a simple Majority.

4.REMOVAL OF TRUSTEES

1.Any Trustee may be removed by the Board of Trustees for breach of Trust , mis-
conduct, if any of the Trustees found to be utilized the funds for some other
purpose other than the above object or for his personal expenses or for his personal
benefit.
2.Any Trustee desires to retire from the Trust ship then he will do as per his wish
by tendering 30days prior notice.
3.In case of any vacancy in the board of Trustees arising on account of death,
retirement, and resignation or otherwise any of the Trustees, the surviving or
remaining Trustees as the case may be shall have full powers to constitute and
represent the board of trustees for the time being. Subsequently the surviving or
remaining trustee or trustees shall co-opt / induct other person as trustee to fill the
vacancy.

5.POWERS OF BOARD OF TRUSTEES:

(a) The board of trustees shall have powers of absolute management of all affairs,
activities and business of trust. The managing trustee can duly carry out all the
decisions made by the board of trustees without limiting or in any way restricting
the generality of their powers, the board of trustees shall exercise the following
powers:
(i) Board of Trustees shall have the power to receive donations so as to augment
the Trust Funds or to treat such donations for the purposes of the Trust either
towards corpus or other Funds eligible to be spent or applied according to the
objects of the Trust. This is only a public religious trust hence the amount so
received by way of donation will be spent only towards the religious objects for
which the trust is established. No exemption u/s 80G will be claimed by the
donors.
(ii) The trustees shall pay, expend, apply or utilize the trust fund and all the
additions and accretion thereto from time to time or any such part thereof as they
shall in their discretion decide for all or any one or more of objects aforesaid
exclusively and not for purposes of profit.
(iii) It shall be lawful for the board of trustees to frame rules and regulations for the
conduct and management of trust.
(iv) The board of trustees shall have powers to invest the corpus or the income
from the trust fund at their discretion in such investments as may be permitted by
law.
(v) The board of trustees shall open an account or accounts with any bank in the
name of trust and all such bank accounts shall be operated by the managing trustee/
Founder .
(vi) The Managing Trustee is empowered to institute, conduct, defend, intervene in
or compromise any legal proceedings by or against the trust.
(vii) To appoint committees or sub /committees from among the trustees for
looking after the affairs, activities and projects of the trust.
(viii) The bank accounts shall be operated by managing trustee alone and all
accounts should be maintained in the name of the Trust. The managing trustee is
empowered to withdraw it without the consent of the other Trustees for the regular
expenses of the Trust, If there is any litigation then any one of the Trustee can be
authorized to Sue and he is empowered to do all the legal acts without detrimental
of the Trust.
(ix) Board of Trustees shall have the power to delegate their duties to anyone
of the Trustees.
(x) Board of Trustees may invite any expert or well-wisher to attend Trust
Board Meeting for advice and participation.
(xi) The Trust Deed/ Fund authorizes the receipt of Foreign
Contributions/donations. Necessary permission under FCRA 1976 in
This regard shall be accorded from Home Ministry New Delhi, once the
Trust becomes eligible to apply for the same if required.

6.MEETINGS OF BOARD OF TRUSTEES:


(1) The trustees shall meet as many times as may be considered by conveying
proper intimation thereof to the other trustees and they shall maintain the minutes
of the meetings.
(2) Three trustees present shall constitute the quorum for the meeting of the board
of trustees,
(3) all the decisions shall be carried by a simple majority and in the event of
equality of votes the issue shall be decided by casting vote Managing Trustee.
(4) Any resolution in writing circulated to all the trustees and accepted and signed
by a simple majority of trustees in token their said acceptance shall be valid and
binding on the board of trustees as though the said resolution has been passed at a
duly convened meeting of board of trustees.

7.PROPERTY OF TRUST:
The contributions received from the members and donors shall be deposited in a
bank account opened for this purpose and the trustees will acknowledge and issue
receipts for the amount/s so received promptly. The funds so received in a calendar
month shall be put in secured fixed deposits in the trust account after deducting the
expenses towards the object of the Trust. The deposits should be insured to avoid
any loss due to unforeseen circumstances.

8.FINANCIAL YEAR

The financial year of the trust shall be from 1st of April to 31st of March of the
every year and regular accounts shall be maintained in the normal course,
accordingly.
9.ACCOUNTS AND ADUIT:

The accounts of the trust shall be audited by a Chartered accountant appointed by


the board of trustees and audited statements of account and the report thereon shall
be placed in the board of trustees for its approval and adopting within six months
from the close of the financial year.

10.AMENDMENTS:
This trust shall be irrevocable though this trust shall be irrevocable, the board of
trustees any subject to the prior approval of the director of the income tax
department amend any clauses of this trust deed at a duly convened meeting of the
board of trustees by a resolution passed unanimously of which resolution at least
15days notices shall have been given to all the trustees.

11.WINDING UP:
(1) if the trustees decide that no useful purpose will be achieved by the
continuation of the trust, it shall be open to the trustees to dissolve and wind up the
trust.
(2) In the event of such dissolution or winding up of the trust, the assets and
properties of the trust or any part thereof shall not be appropriated by or distributed
among the trustee or their relatives.
(3) The assets and properties of the trust shall have to be disposes according to the
law.

12.GENERAL:
The Trustees shall at all times stand indemnified in respect of any acts of
commission or omission by them in respect of matters relating to the trust.

IN WITNSESS WHEREOF THE AUTHOR OF THE TRUST HAS SET HIS


HANDS TO THERSE PRESETNS ON THE DAY MONTH AND YEAR FIRST
ABOVE WRITEN

You might also like