TRUST DEED
THIS DEED OF TRUST executed on this 15th day of
March, 2019 at Bikaner by Sh. Nirmal Kumar Chhalani
son of Sh. Kanhaiya Lal Chhalani, aged about 40 years,
residing at Surano Ka Mohalla, Purani Line, Gangashahar,
Bikaner (Raj.) (Hereinafter referred to as the SETTLOR
which term wherever the context so requires or admits
shall mean and include his legal heirs, successors,
executors, administrators and assigns)
WHEREAS the settlor is possessed of the sum of Rs.
11000.00 (Rs. Eleven Thousand Only) as his absolute
property hereinafter referred to as said property. And he is
desirous of creating an Educational and Charitable Trust
for the benefit of the humanity at large.
AND WHEREAS the trust is hereby expressly declared
to be a public charitable trust and all the provisions of this
deed are to be constituted accordingly.
NOW THIS DEED OF TRUST WITNESSETH AS
FOLLOWS:
1. NAME
The Trust hereby established shall be named as
KAUSHALYA FOUNDATION TRUST.
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2. PLACE
The principal office of the Trust shall be situated at
Near Alay Bheruji Temple, Baba Ramdev Road,
Old Line, Gangashahar, Bikaner (Rajasthan) or
such other place as the Trustees may from time to
time decide. The Trust may also carry on its work at
any other place or places, as decided by the
Trustees.
3. SETTLEMENT
The settlor, do hereby settle the sum of
Rs.11000.00 (Rs. Eleven Thousand only) in Trust,
with the name and for the objects hereinafter
stated, by delivering the said amount by cheque
which the Trustees, have accepted the receipt of
which they do hereby acknowledge, to hold the
same in and to the Trustees with the powers and
obligations as provided hereinafter.
4. BENEFICIARIES OF THE TRUST
The Trust is established for the benefit of Citizen of
India without discrimination of caste, religion, creed
or sex.
5. OBJECTS
(i) Educational – to run, maintain, provide
support services or assist to any educational or
other institution for academic courses,
guidance or to grant individual scholarships for
poor, deserving and needy students for
elementary, higher and professional education.
(ii) Establishment, acquisition, maintenance
and/or management or support of school,
colleges, vidyapiths, training institute,
balmandirs, study centers, Universities,
Planetarium, and other institutions for
imparting education and training to students.
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(iii) To provide for school education, collegiate
education, including pre- degree courses,
integrated courses, doctoral programs etc in
various fields such as Arts, Science,
Commerce, Special science, humanities, Social
Work Education, Integrated Rural development,
Yoga practices including meditation,
pranayam, kriyas and such other fields.
(iv) To provide continuing education, non formal
education in all fields, careers and professions.
(v) To provide Technical Education programs,
Medical Science Programs, Management
Programs and such other programs in all
branches and specialties of the above.
(vi) To provide ample opportunities of integrating
the education with the needs of socio-
economies development such as promote
opportunities of education for students of
minorities, backward class, rural area and such
other new disciplines and specialties.
(vii) To provide teacher training programs and
courses for general teaching, collegiate,
teaching, teaching in the fields of yoga and
allied areas and for technical institutions.
(viii) To provide job oriented education, training
and work experience programs and such
education and training so as to develop self
employment and entrepreneurship and to
assist them for such self employment by
means of finance, marketing etc.
(ix) To provide, maintain, develop, improve
and extend the necessary facilities in various
institution under the Trust for the purpose of
education, training, research and development
in the various fields of Arts, Science,
Engineering, medicine, Technology,
Architecture, Management, Yoga and its allied
fields and many other new disciplines.
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(x) To accept autonomous status to any of the
institution as and when the University Grants
Commission and/or any other competent
authority accord.
(xi) To provide for dissemination of literacy,
cultural and scientific knowledge through
publication of magazines, periodicals, books,
pamphlets and through electronic media with
non-profit objects and to establish necessary
facilities for printing, publication and
production.
(xii) To assist students who are poor and/or who
are deserving by way of free scholarship, free
boarding and lodging, free clothing, books,
instruments and such other things required.
(xiii) To establish, maintain, improve and extend the
allied facilities to education and boarding
places etc. for the benefit of students.
(xiv) Establishment and support of professorships,
fellowship, lectureship, scholarship, and prizes
at schools, colleges or other educational
institutions.
(xv) Grant of endowments at universities, Research
Institution and other educational and scientific
institution (whether now existing or hereinafter
established) for spreading of education and
knowledge in all or any branches of knowledge.
(xvi) Assisting in the promotion of research and
development in various fields and/or for
undertaking, prosecuting and encouraging,
higher education and research work in any
branch of engineering, technology,
electrotherapy, radiology, bacteriology,
medical sciences, Yoga, Meditation and other
related fields, horticulture agriculture, or any
other branch or branches of modern applied
science in the widest and most comprehensive
sense.
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(xvii) Assisting students to pursue their academic,
professional and other studies by providing
scholarship, hostel facilities, supply of books
and other requirements.
(xviii) To promote music, drama, dance and
other Fine Arts and/or to establish institution
for propagation and implementation, training in
these fields and to render assistance to
students in the foregoing fields.
(xix) To create awareness among public towards the
protection of environment and natural
resources by conducting programs, seminars,
lectures, by publishing books, magazines with
non-profit objects and in any other manner.
(xx) To create awareness on preservation of
natural resource by various means and to
conduct projects for such cause like tree
plantation, afforestation programs, removal
and disposal of non degradable materials and
such similar programs and to fund such
projects which are towards the above
mentioned cause.
(xxi) Spreading education, knowledge and learning
in all its branches by way publication of books,
magazines, conducting lectures, seminars and
in any other manner.
(xxii) Establishing, supporting, maintain or helping
by monetary, gift or otherwise, centers for
research in all fields of science, including
ayurvedic, homeopathic and sidha and in such
field of like Yoga, Therapy and for that purpose
to provide necessary amounts to deserving
persons in carrying out research.
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(xxiii) Aiding, assisting, donation, subscribing or
otherwise contributing funds to societies,
institution, trusts and other funds for promotion
of any of the foregoing objects, are similar to
those of this Trust, subject to the provisions of
Section 11 to 13 of the Income Tax Act, 1961
as amended from time to time.
(xxiv) Donating, contributing funds to such
institutions which are recognized under section
80G or 12AA of the Income Tax Act, 1961 as
amended from time to time.
(xxv) To carry out all such acts, deeds and things
which are incidental to or necessary for the
promotion of the aforementioned objects,
without reference to caste, creed or religion.
(xxvi) To accept donations or endowments either
as Corpus of the Trust or other general
purpose.
(xxvii) To carry on any lawful activity for raising
funds for the purpose of the Trust.
(xxviii) To appoint or employ any person or
persons or other agency to carry on the objects
of the Trust and to suspend, dismiss or take
other disciplinary action against any of them.
(xxix) To expend lawfully any money belonging
to the Trust for the purpose & objects of the
Trust.
(xxx)To motivate Capable to support, assist or help
of poor, needy for education, to meet basic
requirement of livelihood, for health
(xxxi) to undertake any other activity incidental
to the above activities but which are not
inconsistent with the above objects.
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PROVIDED the Trust may assist/donate the other
TRUST to carry out the various objects mentioned in
the objects clause in such manner and to the extent
the Trustees may decide upon from time to time.
6. FUNDS
The Trustees may accept donations, grants,
subscriptions, aids or contributions from any person,
Government, Local authorities or any other
charitable institutions, in monetary terms or in kind
including immovable property without any
encumbrance, but the Trustees shall not accept any
receipt with any condition or terms inconsistent with
the objects of the Trusts. While applying such
receipts to the objects, the Trustees shall respect
the directions, if any, by the granter. Any receipt
with specific direction to treat the same as part of
the corpus of the Trust or separate fund shall be
funded accordingly.
7. NUMBER OF TRUSTEES
The number of Trustees including the Settlors of the
Trust shall not be less than Two and not more than
Twenty One persons. The Board of Trustees shall
nominate and invite person/persons to be the other
trustees for such period, as they may deem fit and
proper.
Following persons are appointed to be First Trustees
for holding the said property in Trust for the
purposes detailed in this Trust Deed:
(i) Sh. Nirmal Kumar Chhalani (Founder
Trustee & Life Time Member)
(ii) Sh. Pradeep Chhalani (Managing
Trustee)
(iii) Sh. Pawan Kumar Surana
(iv) Sh. Jitendra Kumar Bothra
(v) Sh. Nitesh Samsukha
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8. VACANCIES
Any vacancy among the Members of the Board of
Trustees may be filled by the trustees as specified in
para(7) above or their successors and they shall
hold office for such duration as may be specified by
the Board of Trustees.
If at any time the number of the trustees is less than
two, the existing trustee shall appoint one or more
trustees.
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 of Trustees”, subject to the
presence of Quorum in the meetings.
9. TERMINATION OF OFFICE OF THE TRUSTEES
Trustee shall cease to hold office:
(i) If he dies,
(ii) If he resigns,
(iii) If he is adjudged insolvent or found guilty of an
offence involving moral turpitude.
(iv) If he is found to have acted against the interest
of the Trust.
(v) If it is unanimously decided by the Trustees
specified in para (4) above that his continuation
in the Office is against the interest of the Trust.
(vi) Upon expiry of the period up to which the Board
of trustees have nominated the trustee.
10.MANAGING TRUSTEE
(i) The day-today administration of the Trust shall
be looked after by the Managing Trustees under
the guidance, control and supervision of the
Board of Trustees.
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(ii) 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
(iii) The first Managing Trustee will hold office for
his life time. 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 other Trustees as
Managing Trustee.
(iv) The Managing Trustee shall have the power to
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 himself on enquiry
and such action of the Managing Trustee shall
be final.
11.MEETING AND PROCEEDINGS OF THE
TRUSTEES
The Trustees shall ordinarily meet once in a year or
as often as may be necessary for the satisfactory
conduct of the affairs of the Trust.
A minute book shall be kept by the Managing
Trustee. Minutes of entry into the office of every
new trustee and of all proceedings of the meeting of
the board of trustee shall be entered in the minute
book and shall be signed by the President of the
Meeting.
12.NOTICE
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7 days notice shall ordinarily be given in writing for
a meeting of Board of Trustees.
13.QUORUM
The Quorum for the Meeting of the Board of
Trustees shall be two (2). No quorum is required for
a subsequent meeting, adjourning for want of
Quorum.
14.VOTING
Decisions of the Board of Trustees may be made at
a meeting or by circulation of papers to them.
Normal matters of routine nature may be circulated
and decision obtained. The important matters are to
be decided at the meeting. All matters arising for
disposal shall be decided by a majority of the Board
of Trustees present at the Meeting. The President of
the Board of Trustees shall have a casting vote in
the event of equality of votes, in addition to his own.
The Managing Trustee will be President of Board by
default.
15.POWER OF TRUSTEES
That the trustees shall have the following powers:
(i) to manage all the assets and/or properties of
the trust including the conduct of business;
(ii) to appoint employees and to settle the terms of
their service, remuneration and termination;
(iii) to look into the management of the trust;
(iv) to invest the funds of the trust, in bank or in the
purchase of company shares or securities or other
movable and movable and immovable properties;
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(v) to sell, alter, vary, transpose or otherwise
dispose or alienate the trust properties or any
investment representing the same for consideration
and to reinvest the same;
(vi) to pledge or mortgage the trust properties for
raising loans;
(vii) to open the bank accounts in the name and on
behalf of the trust and to operate the same;
(vii) to enter into a partnership on behalf of the trust
with any other party or parties;
(ix) to pay all charges, impositions and other
outgoings payable in respect of the trust properties
and also to pay all cost of the incidental to the
administration and management of the trust
properties;
(x) to file suit on behalf of the trust and to refer to
arbitration all actions proceedings and disputes
touching the trust properties and to compromise
and compound the suits filed;
(xi) to accept any gift, donation or contribution in
cash or in kind from anyone for the objects of the
trust;
(xii) to seek legal opinion of lawyers and/or
Chartered Accountants as and when required;
(xiii) to nominate their representatives for any of the
aforesaid purposes.
(xiv) to appoint a Committee/Committees of
management for such terms and with such powers
as may be specified from time to time, for carrying
on the routine management of the affairs of the
Trust or any special purpose.
16.INVESTMENTS
(i) All monies, which shall not immediately,
required for current needs shall be invested by the
Trustees in eligible securities and investments, in
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banks, or loans and advances to individuals,
business concerns etc. Such investments shall be in
the name of Trust or Trustees.
(ii) That the trustees shall invest the trust fund,
carry on any business with the trust fund and/or
enter into partnership on behalf of the trust, as they
may deem fit.
(iii) That the trustees shall manage the trust fund
and investments thereof as a prudent man would do
the same. They shall recover all outstanding and
meet all recurring and other expenses incurred in
the upkeep or management thereof.
(iv) That the trustees shall receive and hold the
income of the trust on behalf and for the benefit of
the beneficiaries under the trust.
17.APPLICATION OF THE PROPERTIES OF THE
TRUST
The properties and funds of the Trust shall be
applied only for the purpose of the Trust and for the
due administration of its business affairs and
properties provided however that this shall not
preclude payment of any remuneration or allowance
or giving of residential accommodation or any
perquisites to any trustee in connection with the
work carried out by him/her for the purpose of the
Trust.
18.BANK ACCOUNT
(i) The Board of Trustees may open such Bank
Account or Accounts in any of the Banks in the
name of Trust. And such accounts shall be
operated by Managing Trustee or in his
absence, any other authorized trustee by
Managing Trustee in this behalf.
(ii) The trust may open Bank Account/s in the name
of institution/organization founded by the Trust.
Such Bank Accounts shall be operated by
Managing Trustee or in his absence, any other
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authorized trustee by Managing Trustee in this
behalf. .
19.ACCOUNTS
The Trustees shall maintain a true and correct
record of the receipts, payments incomes and
expenses and transactions of the Trust and shall
prepare an Income and Expenditure Account and
Balance Sheet for every year as on the last day of
March.
The Books of Account of the trust shall be audited
by a Chartered Accountant or a firm of Chartered
Accountants every year i.e., commencing from 1st
April to the 31st March of next year.
20.DEFECTS OF PROCEDURE IMMATERIAL
No act or decision of Trustees shall be invalidated
by reason only of any vacancy in the Board of
Trustees or illegality in the appointment of Trustees
or any irregularity in the proceedings of the Board of
Trustees or any Committee thereof.
21.AMENDMENTS
(i) While this Trust shall be irrevocable, the Board of
Trustees may amend any of the clauses except
those relating to the First Managing Trustee and
First Trustees, at a duly convened meeting of the
Board, and by a resolution passed by at least
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.
(ii) If any alteration or amendment is necessary, the
same shall be affected through supplementary
deed/deeds and these shall be read together with
the main Trust deed.
22.INDEMNITY
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The Trustees shall be indemnified against all losses
and liabilities incurred by them in the course of the
administration of the Trust and shall have a lien
over the funds and properties of the Trust for such
indemnity.
23.APPLICABILITY OF TRUST ACT
The provisions of the Indian Trust Act 1882 or any
other law time being in force shall apply to all
matters not specifically mentioned in these
presents.
24.AMALGAMATION
The trustees may amalgamate the trust with
another Charitable Trust or Institution having similar
objects.
25.DISSOLUTION
In the event of dissolution or winding up of the Trust
the assets of the trust remaining on the date of
dissolution shall under no circumstance be
distributed among the Trustees, but the same shall
transferred to other Trust, Society, Association or
Institution whose objects are similar to those of this
Trust
IN WITNESS WHEREOF, The Party hereunto have
signed and delivered the presents on the day and
year first hereinabove written.
In the presence of - SIGNED AND DELIVERED by
the
WITNESS: Within named THE SETTLOR –
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