INDENTURE made at Bombay this ------- day of ----------- 1990 BETWEEN
____________________ called "the Settlor" (which expression shall
unless it be repugnant to the context or meaning thereof be deemed to include
his heirs, executors or administrator) of the One Part AND (1)
____________________ AND (2) _______________________ hereinafter called
"the Trustees" (which expression shall unless repugnant to the
context or meaning thereof be deemed to include the survivor of them and the
Trustees or Trustee for the time being of these presents and the heirs,
executors and administrators of the last surviving Trustee their, his or her
assigns) of the second Part;
the 'Settlor' is desirous of settling for Public Charitable purpose a sum of
Rs. _____(Rupees _________________only);
WHEREAS the Trustees have agreed to act as the Managing Trustees for life of
the said Trust;
THIS INDENTURE WITNESSEH 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 'Settlor' doth hereby grant, assign
transfer and hand over to the Trustees and the Trustees do hereby accept and
take possession of the said sum of Rs. -------/- Rupees ---------- only)
(hereinafter for brevity's sake 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, agreements and declarations hereinafter contained of and concerning
the same i.e.
a. for relief of the
c. Medical relief
d. the advancement of
any other object of general public utility;
e. to collect and
receive funds and donations for the above objects,
f. to do all acts, deeds
and things as are incidental and conducive to the furtherance of the above
IT IS HEREBY DECLARED that the charitable objects hereinabove mentioned shall
not be limited or restricted to any particular caste or creed and will not
involve any element of profit making.
IT IS HEREBY FURTHER DECLARED THAT THE Trustees shall be entitled to utilise
and disburse 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 trusts hereinabove set out;
1. The Trustees shall
have power and shall be entitled to collect, recover and receive dividends,
rents and profits and other income of the Trust Estate (hereinafter referred to
as `as the Trust income`) and to pay there out all taxes, rates, assessments,
expenses and outgoings for collection in respect thereof and for the management
of the Trust Estate and for administering and carrying out the Trust hereof.
2. The Trustees shall be
entitled from time to time to accept from any person or persons desiring to
make gifts or donations upon the trusts and subject to the terms, provisions
and powers and conditions contained herein, such moneys or properties as the
Donors desire from time to time to give on the aforesaid trusts and on the
terms and conditions herein contained.
3. The Trust hereby
declared shall be designated as ----------------.
4. The Registered Office
of the Trust shall be at ----------------------.
5. The Trusts hereby
declared shall be irrevocable.
6. It shall be lawful
for the Trustees at any time and from time to time to borrow moneys as well as
to sell, mortgage, assign, transfer, demise or let on lease for any period
however long or otherwise dispose of and deal with the Trust Estate including
any immovable properties comprised therein or any part thereof either by
publication or by private contract and on such terms and conditions as they the
Trustees think fit with liberty to the Trustees to buy in rescind or vary any
contracts for sale, mortgage, transfer, assignment, lease or other disposition
as aforesaid and to resell the same or enter into a fresh contract for
transfer, assignment, lease or other dispositions without being answerable for
any loss occasioned thereby and with power also to execute all necessary
assignments, conveyances, mortgages, transfers, leases, sub-leases and their
counter-parts, and other deeds and assurances for the same and to give receipts
and discharges for the consideration moneys and all other moneys. All moneys
arising from any such sale, mortgage, transfer or other dispositions shall be
deemed to be part of the Trust Estate and shall be dealt with accordingly.
7. The receipt of the
Trustees for the purchase money of any property hereby directed or authorised
to be sold, or for any other moneys, stocks, funds, shares, securities or
investments paid, delivered or transferred to them or him by virtue of these
presents or in the execution of the Trusts or powers hereof shall effectually
discharge the person or persons paying, delivering or transferring the same
therefrom and/or from being bound to see to the application or being answerable
for the loss or mis-application thereof.
8. The Trustees for the
time being of these presents shall be respectively chargeable only for such
moneys and securities as they shall respectively actually receive,
notwithstanding their signing any receipt for the sake of conformity and shall
respectively be answerable and responsible only for their own respective acts,
receipts, omissions, neglect and defaults and not for those of each other, nor
for that of any banker, broker, auctioneer, or other person with whom or into
whose hands any trust moneys or securities shall be deposited or come, nor the
insufficiency in title or deficiency in value of any investments nor any other
loss, unless the same shall happen through their own willful default
respectively AND ALSO that the Trustees or Trustee for the time being may
reimburse themselves, herself or himself or pay and discharge out of the Trust
estate all expenses incurred in or about the execution of the Trusts or powers
under these presents.
9. The Trustees for the
time being of these presents shall have full power to compromise or compound
all actions suits and other proceedings and all differences and demands and to
adjust, settle and approve all accounts relating to the Trust Estate and to
execute, release and to do all other things relating thereto without being
answerable or accountable for any loss occasioned thereby.
10. The Trustees shall be
entitled to employ any person or persons and pay them remuneration for the
effective management and implementation of the Trust, including expert and
technical qualified or experienced personnel.
11. If and so often as
any of the Trustees hereunder appointed or any future Trustees or Trustee of
these presents shall die or shall leave India for more than one year or shall
desire to retire from or refuse or become incapable to act in the Trust of
these presents or otherwise, it shall be lawful for the surviving or continuing
Trustees for the time being of these presents for this purpose to act in the
execution of this power or for the proving executors or administrators of the
last surviving Trustees to appoint a new Trustee or Trustees in place of the
Trustee or Trustees so dying or leaving India or desiring to retire from the
Trust or otherwise to appoint new or additional Trustees or Trustee and upon
every or any such appointment the number of Trustees may be augmented or
reduced and upon every such appointment the Trust Estate shall be transferred
so that the same be vested in the Trustee or Trustees for the time being of
these presents AND the Trustee or Trustees so appointed as aforesaid may as well
before or after such transfer of the Trust Estate, act or assist in the
Execution of the Trusts and powers of these presents as fully and effectually
as if he / they had been hereby appointed as Trustee or Trustees PROVIDED THAT
the number of Trustees of these presents shall not be less than two nor more
than, seven PROVIDED HOWEVER AND IS HEREBY AGREED and declared for the sake of
clarification that the present Trustees who have executed these presents shall
remain Trustees during their lifetime or until such time as they retire or
become disqualified to act as such.
12. Any Trustee may at
any time resign by giving a month's notice to his co-trustees and upon expiry
of such period, he shall be deemed to have vacated his office.
13. The Trustees shall
have the right to make necessary resolutions by circulars instead of by meeting
and any resolutions as agreed to by a majority of the Trustees shall be as
valid and effectual as a resolution of the Trustees at a meeting duly convened.
14. The Trustees shall
determine all questions and matters of doubt in the execution of the Trusts,
including the meaning and construction of any of the articles and provisions
herein contained and do all acts and execute all the trusts, powers and
authorities appertaining to these presents unanimously, and in case of
disagreement, by majority, each Trustee shall have one vote only. The Trustees
shall be at liberty to make rules or bye-laws which are not inconsistent with
what is herein contained.
15. For the purpose
mentioned above or any of them, the Trustees shall be at liberty to enter into,
sign, execute and deliver all such contracts, deeds, assurances and writings as
they may deem necessary or expedient. The Trustees shall also be entitled in
incur all legitimate expenses which they consider to be beneficial to and in
the interests of the Trust.
16. The Trustees shall be
entitled to invest the Trust estate or such other funds of the Trust as are not
immediately required, in any of the investments authorised by the Bombay Public
Trusts Act, 1950 and/or the statutory amendments, modifications or reenactment
thereof for the time being in force or the rules made there under and the
Trustees shall also be at liberty to invest the Trust Estate or any part
thereof on the mortgage of any immovable property situated in any part of the
Republic of India (either of freehold or leasehold or any other tenure) and the
Trustees shall also be entitled to purchase vacant land of any tenure and to
construct buildings and other structures thereon as the Trustees may consider
necessary and in the interest of the Trust and they shall also be entitled to
pull down and demolish to rebuild any building or erection as they may consider
necessary and in the interest of the Trust AND the Trustees shall have power to
alter, vary or transfer the investments from time to time in such manner as the
Trustees may think fit proper and in the interests of the Trust.
17. The Trustees shall be
entitled to obtain tenancy in and/or take on lease any premises and/or
properties as they may consider proper, and also give them on leave and licence
and receive deposits and/or advance compensation.
18. Complete accounts of
the Trust shall be properly kept in Bombay, or at such other place or places as
the Trustees may from time to time decide and all the accounts, records, and
documents of the trust shall be maintained at the office of the Trust. The
accounts of the Trust shall be duly audited.
19. The Trustees shall be
entitled to open and maintain bank account or accounts as they may consider
necessary or proper and such account or accounts may be operated on the
signatures of any of two of the Trustees.
WITNESS WHEREOF the Settlor and the Trustees have hereunto set and subscribed
their respective hands the day and year first hereinabove written.
AND DELIVERED by the within-
the presence of
AND DELIVERED by the within-
in the presence of