All Trustees holding office at a given time shall together constitute the Board of Trustees (“Board”) and shall observe the following rules:

  1. The Board shall meet once every calendar month or as frequently as required for the satisfactory conduct of the affairs of the Trust. The meeting for the month of October shall serve as the annual meeting.
  2. At each annual meeting of the Board, the following office holders shall be elected by a simple majority determined through a secret ballot:
    Chairman: to chair the meetings of the Board and to bring such meetings to order, with the authority to cast a decisive vote in case of a deadlock in any voting process and to arbitrate between Trustees in matters of disagreement.
    Secretary: to keep the book of accounts and to bring all financial issues to the attention of the Board.
  3. The Board shall comprise of no less than three (3) and no more than seven (7) members at any time.
  4. At least three (3) Trustees shall constitute the quorum of the meetings of the Board. Presence of the Chairman or his or her nominee is required for the quorum.
  5. All Trustees shall serve without pay, but may be reimbursed for actual and necessary travel and subsistence expenses incurred by them in the performance of the duties of the Trust, subject to the Rules and Regulations.
  6. Trustees shall be at liberty to nominate or appoint attorneys or agents and to delegate all or any of the duties and powers vested in them to such attorney or agent, and to remove such attorneys or agents and reappoint others in their place.
  7. No Trustee shall be responsible or liable for any loss or any act of omission or commission by his constituted attorney or agent or employees or other Trustees unless occasioned by his wilful neglect or default.
  8. Any of the Trustees may retire on giving one month’s notice in writing to the Board of Trustees.
  9. If at any time the number of the Trustees is less than three (3), the Board of Trustees shall immediately appoint one or more Trustees.
  10. The Trustees shall be indemnified against all losses and liabilities incurred by them in the execution of the Trust and shall have a lien over the funds and properties of the Trust for such indemnity.
  11. Minutes of the meeting or proceedings of all meetings signed by the Chairman shall be recorded and kept by the Secretary for the Board of Trustees in a Minutes Book to be kept for that purpose.

The Trust is subject to the Prudent Man Rule which states that “a Trustee shall exercise the judgment and care, under the circumstances then prevailing, which people of prudence, integrity, and intelligence exercise in the management of their own affairs.” Subject to this rule as well as the Rules and Regulations, the Trustees are authorised to:

  1. Receive, retain, use, spend, dispose of, transfer, invest, disinvest all assets and otherwise deal with the subject matter and property of the Trust in such a manner as the Board of Trustees may deem fit within the framework of the Objectives.
  2. Draw, make, accept, endorse, discount, execute, retire, issue and negotiate promissory notes, bills of exchange, warrants, debentures and other negotiable instruments or transferable instruments subject to the Rules and Regulations.
  3. Execute their responsibilities as assigned to them in the light of this Trust Deed and stipulated in the Rules and Regulations.
  4. Manage all assets of the Trust including the conduct of business.
  5. Recover all monies owed to the Trust.
  6. Appoint employees and to settle the terms of their service, remuneration, etc.
  7. Invest the funds of the Trust in a scheduled bank or in riskless investment vehicles or other movable and immovable properties.
  8. Sell, alter, vary, transpose or otherwise dispose or alienate the Trust properties or any investment representing the same for consideration and to reinvest the same.
  9. Open bank accounts in the name and on behalf of the Trust.
  10. Enter into a partnership on behalf of the Trust with any other party or parties.
  11. Pay all charges, impositions and other payables in respect of the Trust and its properties and also to pay all costs, subject to the Rules and Regulation, incidental to the administration and management of the Trust and its properties.
  12. File suit on behalf of the Trust and to refer to arbitration all actions, proceedings and disputes touching the Trust properties.
  13. Accept any gift, donation or contribution in cash or in kind from anyone for the Objectives of the Trust, subject to the Rules and Regulations.
  14. Seek legal opinion of lawyers, chartered accountants, and other professionals as and when required.
  15. Nominate their representatives for any of the aforesaid purposes.

The Trustees who are signatory to this Deed together with the Author shall constitute the Founding Trustees and shall hold office for their respective lifetimes. All subsequent Trustee appointments shall be for a period of three (3) years. A Trustee may nominate any person of verifiable integrity and character – irrespective of caste, creed, colour, origin, or gender – for a vacancy in the Board of Trustees during any scheduled meeting of the Board. Only a unanimous vote in favour of the nominee shall confirm the appointment. When a Trustee’s tenure expires, he or she may be re-appointed through a simple majority vote by the Board of Trustees in his or her favour.

All Trustees shall cease to hold office at the expiry of their tenure and also if they resign, die, are found by the Board to have acted against the interest of the Trust, or are absent from four (4) monthly meetings of the Board of Trustees in any 12-month period.