THIS DEED OF TRUST EXECUTED AT CHENNAI, this 20th day of February 2012 by Sri CH.VENKATESWARLU, son of CH.Punniah, aged about 78 years, residing at Old No.20, New No.8, Race Course Road, Guindy, Chennai - 600 032, herein after called the Author which term shall wherever the context permit means and include himself, his heirs, executors, administrators and legal representatives and assign.
WHEREAS the author of the Trust desirous of endowing sum of Rs.1000/- (Rupees One Thousand only) in cash and create a Trust called SRI RAMAKRISHNA TAPOVANAM for the Charitable and benevolent purposes.
AND WHEREAS the author is therefore desirous of creating the trust by these presents and endowing the said amount of Rs.1000/- to it and for the objects of and the management of the Trust.
The Author of the Trust hereby Transfer unto the Trustees named hereunder a sum of Rs.1000/- (Rupees One thousand only) upon Trust, which sum of moneys along with all the other sums of moneys and properties received by the Trust by way of grants.
The Trust shall be called SRI RAMAKRISHNA TAPOVANAM.
The Trust is created for purposes and objects hereinafter detailed viz.
a) To assist poor, downtrodden and orphan children, more specifically in promoting their education, assistance including school fees, free uniforms, books, transport, etc.
b) To assist differently abled children viz. Deaf, Dumb, Blind etc. more specifically in promoting their education, assistance including school fees, free uniforms, equipments like hearing aids etc.
c) To preserve and promote the treasure of Vedas in the country, by giving stipend to the children who are inclined to learn Vedas and subsidiaries to Vedas. Those scholars in Vedas can also be honoured on specific occasions.
d) To create a library to be equipped with technical books viz. science, medicine, information technology, engineering etc. in the premises, where the author is presently residing, at no.20, Race Course road, Gunidy, Chennai 600032.
e) To protect cows in the country.
The above objects shall be independent of each other and the trustees hereinafter constituted any from time to time apply the income and profits of the Trust for carrying out the objects of the Trust.
For the removal of doubts it is hereby declared that the Trust, its objects and its implementation shall not be for the benefit of any particular caste, or religious community as such and none of the objects of the Trust would be carried on with a view to earn profits.
The objects of the Trust shall be carried out in the territories of the Union of India
(a) The amount hereunder settled and mentioned shall form the nucleus of the properties and funds of the SRI RAMAKRISHNA TAPOVANAM. (b) The properties, funds and assets of SRI RAMAKRISHNA TAPOVANAM herein transferred and all additions, accretions, augmentations, donations and other amounts and other properties received by the Trust. (c) There is no movable or immovable property in the name of the Trust as on date.
The registered office of the Trust shall be situated at Old No.20, New No.8,Race Course Road, Guindy, Chennai - 600 032 or at any other place or places as the majority of the Trustees decide.
7. The trustees shall have power to accept grants, contributions in money or property in kind either by way of additions to the trust funds generally or for anyone or more of the specified objects of the Trust and in either case such contributions shall be dealt with either as capital or as income according to the directions of the donors at the time of gift or contribution and the Trustees shall do all things as may be necessary to act upon the wishes of such donors. The Trustees are also entitled to collect donations from the public by means of benefit performances or otherwise to further the objects of the Trust.
The number of Trustees shall be not less than two but not more than six.
(a) There shall be a Board of Trustees for the Trust. The first and permanent Trustees of the Trust are :
1. Mr. CH.VENKATESWARLU son of Punniah aged about 78 residing at Old No.20, New No.8,Race course road, Guindy, Chennai 600 032. Pan No. AATPV8949-A - MANAGING TRUSTEE
2. Mr.N.Giridhar aged about 47, Son of P.R.Narasimhan, residing at 3-C, Sindhu Block, Doshi Symphony, Pallikaranai, 600 100. TRUSTEE
3. Mr.J.Dominic aged about 44, Son of S.Jesuraj, residing at Old No.7, New No.8, Solomon Street extension, Tambaram east, Chennai 600 059. Pan No.AHNPD6986-A TRUSTEE
4. Mr.M.V.Jayaprakash aged about 58, Son of Vasudevan, residing at Old No. 112, New No 216, V.M.Street, Mylapore, Chennai 600 004. PAN ABVPJ8798-C. TRUSTEE
(b) The permanent Trustees shall have power to appoint two trustees raising the membership of the Board of Trustees to six.
(c) The permanent Trustees shall hold their office till life time. They can retire voluntarily and shall have power to nominate their successor to the Board of Trustees in their place to look after the management during their life time or after their life time. The retiring Trustee will submit three names of his choice with Bio-data to the Managing Committee. The Committee will select one among those three names. If the Managing Committee is not satisfied they may ask to submit another set of names for their consideration and approval. Such Trustees nominated shall also be permanent trustees and they shall hold office till their life time and they can nominate their successors in the above pattern.
(d) In the event of any vacancy arising among the permanent trustees by death, discharge of office or otherwise and if there is no nomination as per clause(c) above, the surviving permanent trustees shall have power to fill up the vacancy.
10. All decisions of the Board of Trustees shall be taken either unanimously or by majority and if the Board is equally divided the Managing Trustee will have the casting vote.
(a) The Corpus Fund of the Trust shall be invested only in the manner prescribed under the Income tax Act, 1961 as applicable to the Public Charitable Trust from time to time and in other form of investments, subject to this Trustees shall have the full right to alter or vary the investments from time to time without causing loss to the Trust.
(b) THE TRUSTEES SHALL :
(i) Manage the Trust Funds, collect and receive interest, dividend, rent, profits and other incomes from thereof
(ii) Pay and discharge out of this income all the expenses and charges for collecting the same and all other costs charges and expenses necessary are incidental for administration of the Trust.
(iii) Apply the net income for carrying out all or anyone or more of the objects of the Trust in such shares and proportions and in such manner as the Trustees in their absolute discretion think fit.
(iv) The Trustees shall however to be entitled to accumulate a portion of the income to the extent permitted under the income tax act 1961, from time to time for future activities of the Trust.
(a) To receive gifts or donations, in cash or in kind either as contributions towards the Corpus Fund or for carrying out any specific purpose or objects of the Trust :
(b) To accept with or without condition, settlement of immovable or movable assets and specific endowments and act as Trustees thereof for carrying out the Directions of the settler or donor.
(c) To Appoint any staff, managers or secretaries for administering the Trust and to discharge or terminate any of them if necessary.
(d) To Institute or defend any legal action claims or dispute concerning the Trust or the Trustee.
(e) To settle, sanction, compromise or compound any claim by or against the Trust where it is prudent to do so without being answerable for any loss or damage occasioned.
(f) To do all other acts, deeds or things, which are incidental necessary or conducive for the purpose of carrying out any of the objects of this Trust.
(g) The trustees shall be entitled to accept specific donations, settlements or endowments, invest them separately in securities approved by the Income Tax Act, 1961, act as Trustees thereof for carrying out the directions of donor.
(h) The Board of Trustees may open bank account in one or more banks and the same shall be operated jointly or severally by the Permanent Trustees.
(i) The Trustees shall arrange for the maintenance of correct and proper books of Account, vouchers etc.
(j) The books of accounts of the Trust shall be audited by a chartered accountant.
(k) Alienation to immovable property shall be done with prior approval of the Director of Income Tax(Exemptions), Chennai.
The Trustees shall maintain proper books of accounts which shall be closed on 31st Day of March each year. The annual accounts of the Trust shall be audited and certified by a Chartered Accountant. Within one month of the receipt of the audited accounts shall be placed before the Trust Board a meeting for adopting the same.
The Trust shall hold an annual general meeting at its registered office or at such other place as decided by the Board of Trustees for the purpose of transacting the following business :
(a) To receive and adopt the annual report presented by the Managing Trustee.
(b) To receive and adopt the audited statements of accounts and balance sheet.
(c) To appoint an auditor for the ensuing year and fix his remuneration.
(d) To consider all other matters specifically included in the agenda of the meeting.
(e) Apart from this meeting the Board of Trustees shall meet at least once in three months for reviewing the activities of the Trust.
(f) The Board of Trustees shall maintain a Minutes book in which all the proceedings of the meetings and their resolutions passed therein shall be recorded. The chairman of the meeting shall sign the minutes and it shall constitute evidence of such proceedings and every six months the Trustees shall finalize six month account compulsorily.
(a) No portion of the income of the trust or its properties shall be utilized for the propagation of any religion, or donated to any religious institutions.
(b) Not more than 5% of the income of the Trust shall be utilized for religious purpose.
(a) All donations received from time to time will be added to the Corpus Fund only, and not to be utilized for current expenditure.
(b) The Interest accrued/received on the Corpus Fund as on 31st March of each year is to be disbursed during the next accounting year.
(c) 40% of the interest accrued to be spent for promoting education to poor, downtrodden and orphan children from a reputed and well organized institutions by sponsoring one or more children.
(d) 20% of the interest accrued is to be spent for sponsoring children who are differently abled viz. Deaf, dumb and blind etc. from a reputed and well organized institutions by sponsoring one or more children.
(e) 20% of the interest accrued is to be spent for sponsoring those children who are perusing the learning of Vedic studies from a reputed and well organized institutions by sponsoring one or more children.
(f) 10% of the interest accrued is to be spent for those institutions who are running cow protection centers.
(g) 5% of the interest accrued is to be spent to create, equip and maintain a library with technical books viz. science, medicine, information technology, engineering etc.
(h) 5% of the interest shall be utilized for the victims who are dislodged through their homes due to natural calamities from a reputed and well organized institutions
(a) No party of the Trust or its Corpus shall at any time be distributed in any manner among the author, donors, Trustees, contributory to the Trust Funds or persons defined in section 13(1)(c) of the Income Tax Act,1961. It shall be applied only for the purpose of achieving the objects of the Trust.
(b) This Trust shall be irrevocable.
(c) In the event of the Trust not being able to function in the fulfillment of its objects, the Trustees shall, after discharging all the liabilities, transfer the net assets of the Trust to any other Trust, society, or endowment having similar objects and enjoying exemption under section 80 G of the Income Tax Act, 1961, which agrees to carry out all or any of the objects of this trust.
In witness whereof the author of the Trust signed in their presence on the day written above at Chennai.