THIS TRUST DEED IS MADE ON
THIS …….. day of December 2012 at MEERUT
By,
CA AMRESH KUMAR VASHISHT
S/o SHRI VED
PRAKASH SHARMA
CHARTERED
ACCOUNTANT
MODERATOR OF
THE GROUP� ICAI_CIRC_MEERUT_CA�
115, Chappel
Street
MEERUT CANTT-250001
Indian
Inhabitant, hereinafter referred to as "THE SETTLOR"
(which expression shall unless it be repugnant to the context or meaning
thereof be deemed to include his heirs, executors or administrators.
WHEREAS the Settlor is desirous of settling
for charitable purposes,
AND
WHEREAS the settlor himself has appointed
1.
2.
3.
4.
5.
All Indian Inhabitants, hereinafter referred
to as "THE TRUSTEES" (which expression shall, unless
repugnant to the context or meaning thereof, be deemed to include the survivors
or survivor of them and the heirs, executors or administrators of the last
survivor and the trustee or trustees for the time being of the trust hereby
declared and their heir or assigns) as Life Trustees AND WHEREAS the trustees
have agreed to act as first trustees of the said trust.
WHEREAS the Settler is desirous of making this Charitable Trust Of the
said money to promote a trust for Chartered
Accountant in Distress. “Distress� shall mean situations in which a Chartered
Accountant or Chartered Accountants find themselves in acute physical or mental discomfort, financial distress, reduced circumstances or the conditions of being in
need of immediate assistance.
NOW THIS TRUST DEED WITNESSETH that with a
view to perpetuate the said desire and in consideration of the premises and for
other diverse good causes and consideration him thereunto moving, HE the
Settler do grant, assign, transfer and hand over to the Trustees and the
Trustees do accept and take possession of the said sum of Rs. 2,000/-
(Rupees Two thousand only) hereinafter called "The Trust
Estate" (which expression shall include all accretions thereto by
way of donations or otherwise and the investments for the time being
representing the same) TO HOLD the Trust Estate upon the Trusts and with and
subject to the powers, provisions, deeds and declarations, hereinafter
contained or concerning the same.
Area of Benefit
The Area of Benefit shall not have any boundaries of limitation.The Beneficieries shall be limited to Chartered Accountants as defined in the Chartered accountants act irrespective of caste ,creed, religion, region anywhere in world for Medical support/treatment of his/her spouse and children by way of financial grants or otherwise.
MOTTO
HERE'S OUR HAND REACHING OUT FOR YOU, TAKE IT, FEEL IT, HOLD IT, IT BELONGS TO YOU.
The
Original Trustees wishing to continue to operate a Benevolent Fund for such
charitable objects as are hereinafter defined and referred to and having resolved
to declare the Benevolent Fund hereinafter contained in order that they may
receive and hold assets upon those funds
NOW THIS DEED WITNESSETH and it is hereby declared as follows:-
NOW IT IS HEREBY FURTHER DECLARED The Trustees shall be entitled
from time to time to accept from any person or persons desiring to make gifts
or donation upon the TRUSTS and subject to the terms, provisions, powers and
conditions contained therein such money or properties as the donors desire from
time to time to give on the aforesaid trust and on the terms and conditions
herein contained.
And that trustees shall be entitled to
utilize and disperse either the net income of the trust estate and/or parts of
the corpus thereof for maintaining and/or conducting establishments for the
charitable purposes and trust hereinabove set out and also as they in their
discretion deem fit and proper to make contribution and/or donations to
charitable institutions and/or establishments having one or more of the
charitable objects hereinabove set out;
The TRUST hereby declared shall
be designated as
CA'S BENEVOLENT FUND �
And shall be irrevocable. The Office of the trust for the time being
shall be at 115,Chappel Street ,
Meerut Cantt.
1. Definitions and Interpretation
1.1. A Benevolent Fund for CA in DISTRESS hereby constituted shall
be called the “CA’S Benevolent Fund�
1.2. In this deed the following expressions shall unless the
context requires otherwise have the following meanings:
1.3. The “Trustees� means the Original Trustees and the survivors
or survivor of them or any other person or persons for the time being appointed
to act as Trustee or Trustees under this deed
1.4. The “Benevolent Fund� means
1.4.1. The contributions made by the Author, Original Trustees &
other contribution made by Chartered Accountants in future.
1.4.2. All assets at any time added to the above by way of further
settlement accumulation of income capital accretion or otherwise
1.4.3. The money investments securities and property from time to
time representing the same or any part or parts of them
1.5 “Charitable objects� means objects as stated in clause 3
1.6 The relief of poverty and distress, or the granting of
assistance, shall be by way of monetary grant or sponsorship or by the
provision of goods or services
1.7 “Distress� shall mean situations in which a person or persons
find themselves in acute
physical discomfort, financial distress, reduced circumstances or the conditions of being in
need of immediate assistance.
1.8 The “GROUP� shall for the time being mean ICAI_CIRC_MEERUT_CA at
yahoo groups or any future creation of any trust /society/section 25 company by
the members of such group or the formal & informal groups of chartered
accountants serving the fraternity through their programmes and activities.
1.9 The “Members� shall mean the former, present and future members
of the Institute of Chartered Accountants of India.
2. The Benevolent Fund
The Trustees shall hold the capital and income of the Benevolent
Fund UPON TRUST
2.1 first to pay from it all the proper costs and expenses
incurred by the Trustees in administering the Benevolent Fund and subject to
that
2.2 to pay or apply the same at such time or times as they may in
their absolute discretion think fit for all or any one or more objects of the
Benevolent Fund.The Benevolent Fund shall not be used for any other purpose.
3. Objects
The
objects of the Benevolent Fund are those objects of the “ CA’S BENEVOLENT FUND�
which provide benevolence, namely:
(a)
Comfort and assistance to Chartered Accountants in difficult circumstances
(b)
in support of charitable activities for Chartered Accountants in Distress .
In
furtherance of the purposes of the Benevolent Fund but not otherwise and in
addition to the powers vested in them by law (which shall take effect subject
to any modifications in this Deed) the Trustees shall have and may exercise at
any time or times in their absolute discretion without being liable to account
for the exercise of such discretion the following powers
3.1.
Power to retain the Benevolent Fund or any part of it in its actual state and
condition for any period or at any time to realize the same or any part of it
3.2.
Power to invest or apply the Benevolent Fund (irrespective of whether any
income is produced or whether any liabilities are thereby incurred) in the
purchase of or at interest upon the security of such stocks funds shares
securities or other investments of whatsoever nature and wheresoever’s
3.3.
Power to accept or refuse any money investments or property offered given
bequeathed or devised to the Benevolent Fund and to decide (subject to any
condition or term imposed by any donor or testator) whether the same or any
part of it shall be held as capital or income of the Benevolent Fund
3.4.
Power to decide to what extent and for what purpose or purposes monies are to
be applied under this Deed and in what manner the same are to be applied
whether by way of outright grant or loan and in the case of loans to fix the
terms of the loan and the security (if any) to be taken for the repayment of
the loan and the interest (if any) to be charged under the loan and all other
conditions relating thereto
3.5.
Power to invest or hold or allow to remain in the name of or under the control
of any two or more of their number or of any two or more persons or any
corporation as nominee or nominees of the Trustees the whole or any part of the
Benevolent Fund as the Trustees shall think fit
3.6.
Power to delegate to any person or persons whomsoever and whensoever’s for any period and
in any manner and upon any terms whatsoever the execution or exercise of the
Benevolent Fund’s powers and discretions (or of any one or more of them)
imposed or conferred upon the Trustees by this Deed or by law provided that it
shall be a condition of the appointment of any such person or persons or
corporation or corporations that regular reports shall be sent to the Trustees
by the appointee or appointees and that every such report should be considered
at the meeting of the Trustees next following after the date of its receipt and
provided further that any expenditure made by any such persons or corporations
shall be in accordance with a budget previously agreed with the Trustees
3.7.
Power to engage or employ any person or persons or as agents advisers managers or
other employees whatsoever and in any part of the world and to pay out of the capital
or income of the Benevolent Fund any fees remuneration or other expenses or outgoing
whatsoever payable in connection with it and the Trustees shall not be liable for
any loss or damage caused to the Benevolent Fund or its income or any part or
parts either by the act or default of any such person or corporation if engaged
or employed in good faith
3.8.
Power to raise funds and to invite and receive contributions from any Chartered
Accounatants or any of their association/union whatsoever by way of subscription donation and
otherwise as they shall think fit and to do all
things necessary to reclaim any taxation on any subscription or donation
provided that the Trustees shall not undertake any permanent trading activities
in raising funds for the charitable objects and purposes of this Deed.
3.9. Power to issue appeals for donations and to make reports of
the work of the Trustees.
3.10. Power from time to time to make regulations relating to the
acquisition management and disbursement of the Benevolent Fund and to amend or
revoke these regulations or to make additional regulations
3.11. Power to establish and operate the Benevolent Fund through
the current and deposit accounts with bankers or to establish and operate both
current accounts and deposit accounts with bankers in the name of the “ CA’S
BENEVOLENT FUND�.Any combination of
trustees may be authorised by the Board to operate banking accounts.
3.12. Power to do all such other lawful acts and things (whether
or not falling within any of the categories or powers set out above) as shall
further the proper administration of the Benevolent Fund and the attainment of
the objects of the Benevolent Fund
4. Trustees: General Provisions
4.1. The General Board Of Trustees for the time being of the“ CA’S BENEVOLENT FUND� shall have power from time to time
to recommend the appointment of a new or additional trustee or trustees of the
Benevolent Fund
4.2. Any corporate body may at any time be appointed one of the Trustees
of the Benevolent Fund
4.3. No Trustee shall receive any remuneration or other directly
or indirectly financial reward/benefit from the Fund unless fall under distress.
4.4. In the execution of the Benevolent Fund and powers of this Deed
no Trustee shall be liable for any loss to the Benevolent Fund arising by any
improper investment made in good faith (so long as professional advice shall
have been sought before making such investment) or for the negligence or fraud
of any agent employed by him or by the other Trustee(s) under this Deed in any
good faith (provided that reasonable supervision shall have been exercised) or
by reason of any mistake or omission made in good faith by any such Trustee or
by reason of any other matter or thing except willful and individual fraud or
wrongdoing or wrongful omission on the part of the Trustees sought to be made
liable
5. Chairman and Treasurer
The Trustees may from time to
time appoint some person to act as chairman and some person to act as honorary
treasurer of the Benevolent Fund. Such persons may be (but need not be)
Trustees. The first chairman of the Benevolent Fund shall be CA ……………………………….and
the first honorary treasurer shall be CA ……………………………………………..The Board of
trustees may create further posts of office bearers as and when find
appropriate. Dignitaries
interested in patronizing the ideology of the Trust may be appointed as patrons
of the Trust with their kind consent.
6. Proceedings of the Benevolent Fund
6.1. The Trustees shall operate through the Board of Trustees of
the “ CA’S BENEVOLENT FUND� or a
properly constituted sub Board/committee Of Trustees thereof .
6.2. Trustees shall form a quorum and a quorum shall be three but
if more are in attendance one third of those present and a meeting of Trustees
at which a quorum is present shall be competent to exercise all or any of the
powers and discretions vested in the Trustees. Here the meaning of attendance also
include the latest attendance by way of teleconferencing/ e mails or video
chats or by any advance facility for the
same.
6.3. Questions arising at any meeting shall be decided by a
majority of votes (each Trustee having one vote) and in the case of equality of
votes the chairman of the Benevolent Fund shall have a second or casting vote
6.4. The majority shall be a simple majority save in the
circumstances contemplated by clause 8.3.4. Hereof.
7. Records
and Accounts for the Operation of the Benevolent Fund
7.1.
The Trustees shall cause proper minutes to be kept as part of the minutes of and
its sub Board of Trustees and any minutes of any meeting of the Trustees Purporting
to be signed by the chairman of such meeting or by the chairman of the next meeting
shall be conclusive of the matters stated in such minutes
7.2.
The Trustees shall cause full and punctual accounts to be kept of the
Benevolent Fund and all income arising there from and all dealings therewith
and all payments made there under and at least once a year shall cause such
accounts to be presented to.
8. Appointment
and Retirement of Trustees
8.1.
Any evolving personality, who
stands committed to the ideology of the Trust and wishes to contribute
substantially towards its advancement, may with his consent be appointed as
Trustee of the Trust by the Unanimously resolution of the Board of Trustees. A new Trustee may be appointed by a
resolution of the Trustees recorded in the minutes of a Board of Trustees
meeting. Such record together with a signed confirmation by the new Trustee
shall be conclusive evidence of appointment.
8.2. A Trustee may resign by writing under his/her
hand or by e-mail and shall be conclusive evidence of resignation subject to
approval of Board of Trustees.
8.3.
The office of a Trustee shall be vacated if a Trustee:
8.3.1.
Becomes bankrupt or makes any arrangement or composition with his creditors .
8.3.2.
Becomes of unsound mind
8.3.3.
Resigns from the Board Of Trustees.
8.3.4.
The number of Trustees shall not be fewer than three and in the event that
their number fall below three such additional Trustees or Trustee shall
forthwith be appointed as shall be necessary to make their number up to three
but so that the Trustees may while their number is below three only act for the
purpose of appointing additional Trustees or Trustee and for no other purpose.
9. AUDITORS
The Auditors
shall audit the accounts of the Trust every year. The Auditors shall have access
to all the minute books. Account books & Vouchers, and they shall get all
information that is necessary from the Treasurer, Secretary and the Trustees
for auditing the Accounts and shall submit their report to the Board of
Trustees.
10. ADOPTION/AMALGAMATION
The Trust may adopt /amalgamate
in her the institutions, associations/societies engage in similar activities
and objects and shall carry on the unfinished tasks/uninitiated
projects/jobs/work of such organisation/institution/association or societies
after passing a unanimous resolution to that effect.
11.ARBITRATION
In case of any
dispute regarding the execution clarification and implementation of the objects
of the Trust, the decision of the Chairman shall be final.
12.DISSOLUTION
The dissolution of the Trust may be affected by
a special resolution passed unanimously by the special meeting of members not having
a quorum of 100 Chartered Accountants present
at the special meeting convened for the purpose. If on dissolution of the Trust
there remains, after the satisfaction of all its debts and liabilities, any
property whatsoever, the same shall not be paid or distributed amongst the
Trustees of the Trust but shall be transferred to any other charitable
Trust/Registered Society/Company u/s 25 working for the welfare of Chartered Accountants.
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