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Proposed Trust Deed-2018

AGARWAL SAMAJ VIDYA VIHAR TRUST
DEED OF TRUST
(Amended up to 30.08.2015)

THIS DEED OF TRUST is made on this the 14th days of January, one thousand Nine hundred and Ninety Eight between :
(1) Shri Vinodkumar Agarwal S/o Shri Gulabchand Agarwal, President of Agarwal Samaj Trust, representing Agarwal Samaj Trust,
      in pursuance of the resolution of the general meeting of Agarwal Samaj Trust date 11.01.98
      (hereinafter  referred to as the Settler) of the one Part.
        AND
1.  Shri Vinodkumar Agarwal S/o Shri Gulabchand Agarwal, aged about 42 years, resident of 36, Sarjan Society, Parle Point, Surat.
2.  Shri Hariprasad Sureka S/o Shri Rameshwarlal Sureka, age about 65 years, resident of 29, Geneshkrupa Society, Parle Point, Surat.
3.  Shri Banwarilal Poddar S/o Shri Tormal Poddar, aged about 65 years, resident of 102, Trishala Apartment, Parle Point, Surat.
4.  Shri Bhawani Prasad Agarwal S/o Shri Shambhudayal Agarwal, aged about 52 years, resident of 603, Rushiraj Apartment,
     Diwalibaug, Athwalines, Surat.
5.  Shri Shreekishan Banka S/o Shri Banwarilal Banka, age about 44 years, resident of 701, Sun Tower, Jamnanagar, Surat.
6.  Shri Badriprasad Agrawal S/o Shri Mangilal Agrawal, aged about 55 years, resident of 5-B, Sarita Apartment, Somnath
     Mahadev Road, Athwalines, Surat.
7.  Shri Ramawtar Agarwal S/o Shri Gulabchand Agarwal, aged about 42 years, resident of 32, Sai Apartment, Kadampalli, Nanpura,
     Surat.
8.  Shri Harishanker Gupta S/o Shri Ramkaran Gupta, aged about 52 years, resident of 7-C Vrij Vatika, Bh. Gokul Row House, Somnath
     Mahadev Road, Athwalines, Surat.
9.  Shri Rajendraprasad Sarawagi S/o Shri Bhikamchand Sarawagi, aged about 45 years, resident of 5, Jay Jalaram Society, Piplod,
      Surat.
10. Shri Gokulchand Bajaj S/o shri Rameshwarlal Bajaj, aged about 42 years, resident of 101, Sukh Sagar Apartment, Bh. Kakadia
      Complex, Ghod-dod Road, Surat.
11. Shri Wazirchand Bansal S/o Shri Palarma Bansal, aged about 50 years resident of Girivihar Apartment, Athwalines, Surat.
12. Shri Arjundas Agarwal S/o Shri Dayakishan Agrawal, aged about 44 years, resident of 5-C, Sagar Apartment, Somnath Mahadev Road,
      Surat.
13. Shri Ramswaroop Agarwal S/o Shri Jagdishpradad Agarwal, aged about 50 years, resident of 5-C, Sagar Apartment, Somnath
      Mahadev Road, Surat.
14. Shri Sureshchand Agrawal S/o Shri Ghasilal Agarwal, aged about 45 years, resident of 15, Pooja Row House Society, Adajan Road,
      Surat.
15. Shri Pramodkumar Choudhary S/o Shri Chogmal Chaudhary, aged about 34 years, resident of 5,A Ravitej Apartment, Athwalines,,
      Surat.
16. Shri Balkishan Poddar S/o Shri Toraml Poddar aged about 52 years, resident of Prasthan Apartment, Somnath Mahadev Road,
      Athwalines, Surat.
17. Shri Ramesh Goyal S/o Shri Laxmichand Goyal, aged about 38 years, resident of 401, Prithvi Apartment, Ghodod Road, Surat.
18. Shri Kamal Agrawal S/o Shri Kanhaiyalal Agrawal, aged about 36 years, resident of 28, Maitri Row House, Parle Point, Surat.
19. Shri Sushil Poddar S/o Shri Tormal Poddar, aged about 40 years, resident of 4003, Turning Point, Bhattar Road, Surat.
20. Shri Radhakrishan Agrawal S/o Shri Chunilal Agrawal, aged about 68 years, resident of 601, Laxmivilas Apartment, Ghoddod Road,
      Surat.
21. Shri Babulal Mittal S/o Shri Gouridutt Mittal, aged about 64 years, resident of 8B Sarita Apartment, Athwalines, Surat.
       WHEREAS the settlers being desirous of creating a Public Charitable Trust, within the territory of India and has decided to settle out irrevocable trust having a sum of Rs. 501/- (Rupees Five hundred on only) for the charitable objects and upon the Trust as hereinafter contained.

NOW THIS DEED WITHNESSETH AS FOLLOWS

1. In pursuance of the said desire of the settler, the settlers has paid a sum of Rs. 501/- (Rupees Five hundred one only) to the trustees (The payment where of the Trustees do hereby acknowledge) as initial contribution to such Trust Fund, To hold the said sum and the investments for the time being representing the same and all other properties and/or sum of money that may for the time being from part of the trust fund and subject to the powers, provisions and declarations hereinafter declared for concerning the same.

2. The Trust shall be called “AGARWAL SAMAJ VIDYA VIHAR TRUST” having its office at Agarwal Vidya Vihar,Vesu,Surat and/or such place or places as the Trustees may decide from time to time.

3. The object for which the Trust Fund is establish are Education a   nd advancement of Education, not involving the carrying on an activity for profit, and the shall be fulfilled without distinction of caste, colour, gender and creed, and for such purposes:

(a)   To spread education and for achieving the same to establish, maintain, construct, run develop and improve as well as assist in establishment, maintenance, construction, running, development and extension of school, colleges of any education faculties.

(b)   To establish, maintain, construct and run the boarding house for students.

(c)   To grant scholarship, stipends, financial aids, education loans   to needy or meritorious students.

(d)   To establish library for the advancement of knowledge in the field of education.

(e)   To develop a healthy as well as critical attitude towards the development of mental, physical and moral upliftment of the students and those connected with the institution so as to make them good citizen.

(f)   To undertake studies, surveys, researches, projects, tours, lectures meetings for advancement of any educational faculties.

(g) To do other acts necessary for the advancement of education.

4. TRUSTEE (Amended on 29.05.2002)

Any person from Agarwal community having attained the age of majority will be entitled to become Trustee of Agarwal Samaj Vidya Vihar Trust by making application to the Executive Committee of Agarwal Samaj Vidya Vihar Trust. The person applying for Trusteeship shall become the Trustee of Agarwal Samaj Vidya Vihar Trust on Executive Board approving the Trusteeship and collecting such Fees as may be decided by the Executive Board from time to time, Provided, however, that no person can become Trustee of the trust, if he:

i)    is of unsound mind;

ii)   has been convicted of any offense involving moral turpitude;

iii)  is considered to be undesirable.

iv)  for the time being the trustee may admit up to 300 Trustees (as amended on 07.09.2008 to increase from 200 to 250 and further amended on 01.08.2010 to increase 250 to 300). If the number of Trustees has to be increased further then the resolution regarding increase in number has to be approved in General meeting of the Trustees by not less than ¾th majority of the Trustees present.

v)  Any Trustee admitted as above during his/her life time shall be entitled to nominate any relative for the transfer of Trusteeship, provided such person is also otherwise entitled for the Trusteeship of the Trust as per the above mentioned criteria, subject to approval of the Board. For the purpose of this clause the “relative" means the spouse, brother or sister or any lineal ascendant or descendant of the Trustee.

 5.  EXECUTIVE BOARD (Amended on 29.05.2002)
The total strength of Executive Board shall be of minimum 14 and maximum 21. The first Board after this amendment shall consist of the following trustees: -

(1)   Shri Banwari Lal Poddar 

(11) Shri Gokul Chand Bajaj

(2)   Shri Ram Prakash Rungta

(12) Shri Banarshi Das Agarwal

(3)   Shri Damodar Prasad  Poddar

(13) Shri ShankarLal Agarwal

(4)   Shri Subhash Chand Mittal 

(14) Shri Narendra Kumar Garg

(5)   Shri Motilal Jalan

(15) Shri Jai Prakash Agarwal

(6)   Shri Bajrang Lal Agarwal

(16) Shri Pramod Kumar Choudhary

(7)   Shri Ramawatar Agarwal

(17) Shri Balkishan Poddar

(8)   Shri Shri Krishan Banka

(18) Shri Govind Prasad Sarawagi

(9)   Shri Rajendra Prasad Sarawagi  

(19) Shri Anand Agarwal

(10)  Shri Ram Karan Bajari

(20) Shri Shyam Gupta

 

(21) Shri Babulal Mittal

The above board shall work up to 31.05.2003 and w.e.f. 01.06.2003. Board shall be of 21 Trustees consisting of the following: -

(a) Three members of Executive Board will be president, Secretary and Treasurer of Agrawal Samaj Trust, Surat and will be ex-officio trustees of the Trust. In case of any of the above person are already members of Executive Board of this Trust ,the Trust Board of Agarwal Samaj Trust, Surat may nominate their senior vice president or any other office bearers as ex-officio trustee in their place. On any of the above referred person appointed as ex officio members of Executive Board, ceasing to be office bearer of the Agrawal Samaj Trust, Surat in the capacity for which he was appointed as ex officio members of Executive Board, as the case may be, will cease to be ex officio members of Executive Board in such capacity and Agarwal Samaj Trust, Surat may intimate such change and nominate other person in their place provided such person is entitled for appointment as ex officio members of Executive Board as per this clause. This clause cannot be deleted, amended or altered in any manner without the written permission of Trust Board of Agarwal Samaj Trust, Surat.

(b) Trustees of the Trust admitted as per Clause (4) of this Trust Deed will appoint 18 members of Executive Board from amongst themselves. Of the above members of Executive Board, nine members will retire every two years and in their place, Trustees will appoint new members of Executive Board. However the retiring members of Executive Board will not be entitled to be reappointed consecutively. They will be entitled for the appointment in subsequent elections only. However this will not be applicable on the Trustee of the first Trust Board as appointed on 29.05.2002.

(c) As regards the first nine members of Executive Board to retire at the end of two years they will retire as may be mutually agreed between the trustees and on failure to reach such agreement by a draw.

(d) The above change is the members of Executive Board at retirement will take place at the time of Annual General Meeting, which will be held to adopt the accounts.

(e) In case of the members of Executive Board so appointed by Trustees if any vacancy arises because of any reason the trust board may fill up such vacancy by calling their meeting and period of such appointed Trustee shall be terminating with expiration of period for which has predecessor was elected.

(f) The Executive Board shall amongst themselves elect President, Vice President, and Secretary, Treasurer or such other office bearers as they may decide from time to time. Such office bearers shall be elected in the first meeting to be held after reconstitution of Executive Board every two years. The office bearers so elected will hold office for a period of two years and in case of any vacancy arising during the period would be filled up by the remaining members of Executive Board for the unexpired period.

(g) Any members of the Executive Board shall not hold the office of President, Secretary and Treasurer for continuous period of more than two year.

(h) The period in terms of years mentioned in all above clauses shall be taken from the conclusion of one Annual General Meeting to the immediate next Annual General Meeting. In case AGM is not held within the prescribed time in the year in which the changes of members of Executive Board are due, the new members of Executive Board shall be appointed and take charge at the end of the prescribed time of holding AGM.

6. POWER OF MEMBERS OF EXECUTIVE BOARD:

For the furtherance of the objects of the Trust, the members of Executive Board will have the following powers:

(a) To charge, moderate tuition and other fees for the outlay and expenses incurred in the upkeep and maintenance of institutions established or about to be established under this deed.

(b) To acquire by way of purchase, construction, gift, lease, exchange or otherwise land and buildings or any immovable properties for the purpose of the Trust.

(c) To accept any donations, contributions, grant or subscriptions, in cash or in kind, from government, local body, any person, body of persons and trust.

(d) To apply to whole or part of the income of the Trust Fund or accumulation thereof for object of the Trust as the Trustees may in their discretion decide from time to time.

(e) To deal with the Trust Property and/or to vary the investments for the time being according to law.

(f) To invest and keep invested the Trust Fund in conformity with the provisions of Income Tax Act, Bombay Public Trust Act or any other laws for the time being in force and to alter, very or transpose such investments from time to time as the members of Executive Board may in their discretion think fit.

(g) To borrow, raise or secure payment of money and also to lend money either with or without security on such terms and conditions as may be decided by the members of Executive Board.

(h) To pay all charges and outgoings payable in respect of any immovable property for the time being forming part of the Trust fund and may carry out repairs, renovation, required to be done, to maintain the same and keep the same insured against loss or damage by fire and may incur all other costs, charges and expenses incidental to the administration and management of the Trust estate and the properties for the time being belonging to the Trust as they may in their absolute discretion think fit.

(i) To let out, give on lease, bearing in mind section 36 of Bombay Public Trust Act, any immovable properties comprised in Trust Fund for such period and at such rent, on such terms and conditions as the Trustees in their discretion may think fit.

(j) To open account with any Scheduled Bank, to operate such accounts and to give instructions to the Bank and to provide for operating of such account by one or more of the members of Executive Board.

(k) To adjust, settle, compromise, refer to arbitration the Trust and Trust, Fund without ignoring the trust interest and without being liable or answerable personally for any loss occasioned thereby.

(l) To appoint or make provision for the appointment of any person (including all or any of Trustees as Committee of Administrator or Managing Trustee or Trustees or otherwise) for the purpose of administration of the Trust in such manner and subject to such rules and regulation as the Trustees may time to time frame and think fit.

(m) To set apart or apply the whole or part of the income of the corpus of the Trust Fund or part thereof for any of the objects of the Trust in India, in conformity with the provision of Income Tax Act ,Bombay Public Trust Act or any other law for the time being in force.

(n) To join, co-operate or amalgamate, in accordance with law, this Trust with other or others duly registered as Public Trust having similar objects upon such terms and conditions as the members of Executive Board may in their discretion think fit particularly having regard to the object and nature of this trust.

(o) To take over the management of any public charitable institution, having same objects on such terms and conditions as may be decided by the members of Executive Board having regard to the objects and nature of this Trust.

(p) The President, Secretary, Treasure or any other person authorized by the members of Executive Board jointly or severally may represent the Trust before central government, state government, income tax authority, authorities under Bombay Public Trust Act, Sales Tax. authority, post office or any other authority, person or persons or local authority in all matters and the sign, endorse, execute all documents, returns, declarations, forms agreements and to obtain required certificates as required by law or rule in force and to verify the same in connection trust.

(q) And generally to do any other act or acts not mentioned above that may be necessary in the discharge of their duties and execution of the powers vested in the members of Executive Board for running institutions in furtherance of total interest of the Trust and for giving effect to the objects of the Trust created hereunder.

7. RESTRICTION ON TRUSTEES AND MEMBERS OF EXECUTIVE BOARD:

The Trustees and Trustees shall have following restrictions:

(a) No remuneration, fee or other direct /indirect benefit in money or money's worth by way of providing any services shall be payable in the capacity of the Trustees and Trustees by themselves or through their relative or partners, except payment of out of pocket expenses, reasonable and proper interest on money lent, or reasonable and proper rent on premises let to the Trust.

(b) Not to obtain any loan from the Trust.

(c) Not to sale, transfer, mortgage or hypothecate or otherwise relinquish right in any immovable assets of the Trust without permission of the General Meeting, subject to applicable laws.

(d) Not to make any donation or contribution or any payments for whatsoever nature to any political parties or religious organization without permission of the General Meeting except for the object of the Trust.

 8. BOARD MEETING

(a) The members of Executive Board may from time to time frame rules for the conduction and regulation of the meeting of Trustees.

(b) The Executive Board shall meet at least once in every two months.

(c) The quorum for the Board Meeting shall be 1/3 rd (rounded off to next number) of the Trustees of the Board Trust. If the quorum is not formed within scheduled time of the meeting, the meeting shall stand adjourned for half an hour and shall meet again at the same place on the same day.

(d) The provision of quorum on such adjourned meeting shall not be applicable.

(e) Any members of Executive Board, if not present in Executive Board meeting for consecutive 3 meetings, without prior information, may be liable to be removed from the Board. The vacancy arising out of such situation shall be filled in by the Executive Board.

(f) Any resolution to be passed by the Executive Board at their meeting shall be circulated in advance through notice of the said meeting and taken to be a valid resolution if passed by simple majority of the members present at the meeting and in case of equality of votes the Chairman of the meeting may exercise a casting vote.

(g) The President of Executive Board shall preside over all the Executive Board Meeting and in his absence the first or second Vice-President shall preside. However if both the president and vice presidents are not present at the meeting, the members so present shall elect among themselves a member so as to preside over the meeting and for that meeting he shall have the power of the president.

(h) Any 1/3rd members of Executive Board can require the Secretary to convene Board Meeting, provided the members of Executive Board give a notice along with agenda of the meeting in writing. The Secretary shall upon receiving such notice call a meeting of the Executive Board within period of 21 days. However such meeting shall consider the agenda provided in the notice and no other business shall be transacted at such meeting. All other provision relating to Executive Board Meeting shall apply to such meeting.

(i) This meeting of the Executive Board shall be held at the office of the Trust or at such other place as the trustee think fit.

(j) Notice period for calling meeting 7 days unless all the Trustees agree to accept a shorter notice.

9. GENERAL MEETING

(a) The Annual General Meeting of the Trustees of the Trust shall be called within six months after the closing of the Accounting year. The extra ordinary general meeting of the Trust may be called for any important matters.

(b) The General Meeting shall be called by giving the notice of at least 21 days by circulating agenda with the notice unless agreed by at least 2/3rd Trustees in writing for notice for shorter period.

(c) The quorum of the meeting shall be 1/10th (rounded off to next number) of total Trustees Trust. If the quorum is not formed within scheduled time of the meeting, the meeting shall stand adjourned for half an hour and shall meet again at the same place on the same day. The provision of quorum on such adjourned meeting shall not be applicable.

(d) All general meeting of the Trust shall be presided over by the president of the Trust Board and in his absence the vice president shall preside. However if both the president and vice presidents are not present at the meeting, the Trustees so present shall elect among themselves a Trustee so as to preside over the meeting and for that meeting he shall have the power of the president. At each meeting the Chairman of the meeting shall have option to exercise casting vote in case of equal votes on a resolution.

(e) Any ordinary resolution to be passed by the general meeting shall be circulated in advance through notice of the said meeting and taken to be a valid resolution if passed by simple majority of the Trustees of the Trust present at the meeting and in case of equality of votes the Chairman of the meeting of that meeting may exercise the casting vote.

(f) The General Meeting of the Trustees of the Trust may make, vary, alter or modify provisions of this deed, rules and regulations framed for carrying out the objects of the Trust created hereunder and for the management of the affairs thereof, for running institutions in furtherance of total interest of the Trust and for giving effect to the objects of the Trust created hereunder. This power may be excised by way of special resolution passed with 2/3rd majority of the Trustees present in duly convened meeting by circulating the proposed amendment with explanatory statements along with the notice of the meeting. In case of equality of votes the Chairman of the meeting of that meeting may exercise the casting vote.

(g) Any 1/10th of the total Trustees of the Trust can require the Secretary to convene extra ordinary general Meeting, provided the Trustees give a notice along with agenda of the meeting in writing. The Secretary shall upon receiving such notice call a meeting of the Trustees within period of 30 days. However such meeting shall consider the agenda provided in the notice and no other business shall be transacted at such meeting. All other provision relating to general meeting shall apply to such meeting.

10. ACCOUNTS

(a) The Executive Board shall cause true and accurate accounts to be kept of all monies received and spent and of all matters in respect there of in course of management of Trust properties or in relation to the carrying out trust objects and purposes as well as of all the assets, credits and effects of the Trust properties.

(b) Unless otherwise decided by the Trustees, the accounts of the Trust shall be made up annually to 31st March every year and the same shall be audited by an Auditor authorized under Bombay Public Trust Act or by any practicing member of the Institute of Chartered Accountants of India but such auditor but shall not be amongst any of the members of the Executive Board of the Trust or relative or partners of any Trustees.

(c) The books of accounts and related records shall be preserved for the period of 8 years from the end of relevant accounting year.

11. COMMITTEE

     Whenever considered necessary, the Executive Board may appoint committee or sub-committee for such work as may be considered necessary with power to appoint such additional members as may be considered necessary by the chairman of the committee or sub-committee. All the committee or sub-committee shall consists of the chairman and such members as may be appointed by the Executive Board amongst the Board or the Trustees of the Trust, as the Board may think fit.

12. The members of the Executive Board shall be answerable only for such money and funds as shall actually come into their hands and a trustee shall not be answerable or accountable for willful neglect, default, acts or     omission of the other Trustees, nor of any bankers or other person with whom the Trust properties or any securities may have been deposited or kept.

13. The receipt of the person authorized by the members of the Executive Board for any money paid or any property transferred or delivered to the members of the Executive Board in execution of any of the powers hereof or for the purchase of property or any property authorized to be sold shall effectually discharge any person or persons so paying, transferring or delivering.

 14. If any rules, regulations or bye laws consistent with this Deed are required to be framed by the members of the Executive Board, they will have full and absolute power to do the same for the better management of the Trust. The members of the Executive Board shall from time to time make and Trust and all matters in respect of which any powers or duties hereby vested in them as they may think proper.

15. The Trust hereby created shall be irrevocable.

16. The Executive Board shall be owner of movable and immovable property of Trust in the capacity of Trustees.

17. Trustees Consisting or not less the 4/5th of the total number of trustees of the trust may determine at the meeting specially convened for the purpose that the trust deserves to be legally     wound up whether forthwith or at any further time then agreed upon. If on the winding up of the trust, there shall remain after the satisfaction of its debts and liabilities, any property whatsoever shall not be paid or distributed among the trustee of the trust but shall be given to Prime Minister Relief Fund or Chief Minister Relief Fund or any institution or establishment registered as public charitable trust and having similar objects.

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