Declaration of Trust (Public) in Marathi

Deed of Public Trust
 

THIS DEED OF TRUST made at ________ this ______ day of_________________ 200___ BETWEEN ________ of _______, Indian Inhabitant, having address at _________________________ _________________________, hereinafter called ?THE SETTLER? (which expression shall unless repugnant to the context or meaning thereof be deemed to include his heirs, executors and administrators) of the ONE PART; AND (1)__________________________, (2)______________________, 3) _____________________________________ and (4) __________________ ___________________, all of ________, Indian Inhabitants, having address at ____________________________________________________________ hereinafter collectively called ?THE TRUSTEES? (which expression shall unless repugnant to the context or contrary to the meaning thereof include the survivor or survivors of them and other the Trustee or Trustees for the time being of the Trust herein mentioned) of the OTHER PART :

WHEREAS:

(a)  The Settler being desirous of creating a Trust called ABC CHARITABLE TRUST (hereinafter referred as ?the said Trust?) for carrying out charitable objects and purposes wide enough to confer benefits thereof on all persons irrespective of class, creed and community and for relief of poor, education, medical relief and advancement of similar objects of general and social welfare and so that such benefit may be given directly by the said Trust.

(b)  The Settler has requested the Trustees to act as the First Trustees of the said Trust along with himself and the Trustees have accepted the said request of the Settler.

(c)  For the objects aforesaid the Settler is desirous of settling on Trust the sum of Rs. 20,000/- (Rupees Twenty thousand only) as corpus of the said Trust which said amount the Settler has on execution of these presents handed over in cash to the Trustees.

 NOW THIS INDENTURE WITNESSETH that in pursuance of the aforesaid desire and for carrying out such desire into effect the Settler doth hereby grant, transfer and assign unto the said Trustees the said sum of Rs. 20,000/- (Rupees Twenty Thousand only) AND all the Estate, right, title and interest, claim and demand of the Settler therein AND NOW the parties hereto are desirous of recording the purposes, objects, uses and Trusts as also the terms and conditions of the said Trust as follows:?

1.   The Trustees shall stand possessed of the said sum of 
 Rs. 20,000/- (Rupees Twenty Thousand only) and the profits and income thereof and the stock, fund, securities, donations, contributions, subscriptions and amalgamations that may hereafter be collected by the Trustees under these presents and the properties movable and immovable for the time being representing the same respectively (hereinafter for brevity?s sake called ?the Trust Funds?) upon the Trust and with and subject to the powers, provisions, agreements and declarations hereinafter declared and contained of and concerning the same, that is to say:

(a)  Upon Trust in the first instance to collect the dividends, interests, rents, profits and other income of the Trust Funds (hereinafter for brevity?s sake called ?the income of the Trust Funds?) and from and out of the same in the first place pay all the proper costs, charges and expenses of the Trust Funds and incidental to the collection thereof and all out-goings payable in respect of the Trust Funds and any immovable property or properties for the time being subject to the trusts hereof as also the costs, charges and expenses of and incidental to the execution, management and administration of the trusts and powers herein contained.

(b)  Subject to the provisions of sub-clause (a) of this clause, the Trustees shall hold the Trust Funds upon trust (so that as far as practicable the corpus shall always remain intact and only the income thereof shall be used, but with liberty to the Trustees at their discretion to use the corpus from time to time either wholly or in part or parts) for the public charitable purpose including:

        (i)  Relief to the poor/deserving persons;

        (ii)  Advancement of education;

       (iii)  Medical relief;

       (iv)  Advancement of any other object of general public utility not involving the carrying on of any activity for profit as the law may regard as Public Charitable purpose; as the Trustees may think fit and for one or more of such public charitable purposes to the exclusion of other or others as the Trustees may think fit provided that the income as well as the capital as well as the corpus shall be applied only towards the public charitable purposes as aforesaid and any accumulation of income shall also be made and deemed to be made for   application to such charitable purposes as aforesaid PROVIDED FURTHER:?

(a)  That notwithstanding anything herein before or hereinafter contained, the income as also the corpus of the Trust Funds shall be applied and be applicable only to or for such public charitable purposes and objects and subject to such conditions or limitations if any as may from time to time be laid down in the Income Tax Act, 1961, or any other Act governing the taxation of income as will ensure or make the Trust hereby established and its income as eligible for exemption from taxation under the Income Tax Act, 1961, or any replacement or re-enactment thereof or modification thereof or under any other Government taxation for the time being in force in India.

(b)  And further so that the Trust hereby established shall be one to which the provisions of 
 Section 80G of the Income Tax Act, 1961, or any replacement, re-enactment or the modification thereof for the time being in force shall apply so that any donation thereto be recognized eligible for exemption or relief from tax with regard to the Donor.

(c)  Without prejudice to the generality of the foregoing objects or purposes but subject as aforesaid IT IS DECLARED that the Trustees shall in each year apply the income of the Trust funds and may at the discretion at any time and from time to time apply also the Trust Funds or any part or parts of the Trust Funds in or towards any one or more of the following objects or purposes (which according to the taxation laws be public charitable objects or purposes) to the exclusion of the other or others of them in such proportion and manner in all respects without distinction or irrespective of religion, caste or creed as the Trustees may in their absolute discretion think proper, that is to say:?

(1)  To establish, erect, equip and maintain or contribute towards establishments, erection, equipment and main?tenance of colleges, schools, bal-mandirs, libraries, free reading rooms, gymnasiums, swimming pools, hospitals, dispensaries, medical clinics ? including clinics for tuberculosis patients, nursing homes, maternity homes, orphanages, home for widows, destitute or other unat?tached woman, vikas grahas and charitable institutions for the relief of poor, education, medical relief and ad?vancement of other objects of general public utility not involving the carrying on of any activity of profit.

(2)  Educational institutions encouraging literature, arts, medicine, science, agricultural crafts, history, technology, agricultural technology and technical education in all branches.

(3)  Endowments to different universities existing or which may hereafter come into existence for the purpose of encouraging education.

(4)  Endowments to hospitals, infirmaries, maternity homes, orphanages, sanatoriums, boarding houses, hostels and charitable dispensaries.

(5)  Awarding scholarships and fellowships in cash or in such other form on such terms and conditions as the Trustees may think fit for the purpose of undertaking, prosecuting and encouraging studies PROVIDED THAT such scholarships and fellowships shall be awarded to such poor and/or deserving students and scholars study?ing in schools, colleges, universities and other education?al institutions in India or abroad and who cannot afford and have no means to prosecute the same.

(6)  Setting up or helping by endowments orphanages or poor houses for the benefits of orphans and poor persons and awarding of scholarships and cash payments to poor persons and widows desirous of receiving a primary, secondary and/or higher education and/or research in any branch or branches of science in its widest sense.

(7)  To pay tution fees, examinations fees, boarding and lodging fees to deserving students and to supply books free of cost to such students.

(8)  To make monthly or other periodical or lump-sum grants and contributions for the advancement of education to educational institutions.

(9)  To render financial help to deserving students to enable them to purchase books and other equipments necessary for their education.

(10) To render financial help to needy and deserving persons to enable them to obtain medical treatment either in India or abroad in cash or in such other forms and on such terms and conditions as Trustees shall deem fit PROVIDED HOWEVER that in case of medical treat?ment to be obtained abroad, financial help should be rendered in India.

GIFT OF SHARES IN A PRIVATE LIMITED COMPANY BY WAY OF DECLARATION OF TRUST

THIS DECLARATION OF TRUST is made on the ______ day of ______ 20______ by _______________ [insert the name, address, etc. of donor] (hereinafter called the trustee).

WHEREAS :

1. The trustee is the registered holder of _________ fully paid ordinary [or as the case may be] shares of each [numbered _______ to ________ inclusive] in the capital of ____________ Limited (hereinafter called the company) a private company incorporated under the Companies Act, 1956.