BENEFICIARIES OF THE TRUST
The Trust is established for the benefit of citizens of India and the class of people mentioned above without discrimination of caste, religion, creed or sex.
PROPERTIES OF THE TRUST
The Trust properties shall consist of
- The amount Transferred by the SETTLOR as mentioned above, towards the Corpus fund of the Trust. Herans 3 of 13.
- The TRUSTEES named above shall be the first trustees and have given their consent to be appointed as the trustees and as token thereof, they have set their hands to this instrument.
- The SETTLOR hereby conveys, transfers and assigns to the TRUSTEES the above referred sum of Rs. 10,000/- (Ten thousand Only) as corpus to the TRUST, the receipt of which, the TRUSTEES do hereby admit and acknowledge, to have and to hold the same in trust as corpus of the Trust, to be used by the Trustees to carry out and fulfill the objects of the Trust set forth herein, and the SETTLOR of the Trust hereby relinquishes for all time any claim to or interest in the said assets and properties or fund forming the subject matter of the Trust.
- That the registered office of the Trust shall be situated at H.No. D2-102, Gold Craft CGHS Ltd. Plot No. 4, Dwarka, Sector-11 South West, Delhi-110075, or at such other place or places as the Board of Trustees may decide from time to time. Branch/administrative offices can be opened in any part of the country for the smooth functioning of the Trust.
- The TRUSTEES do hereby agree that they shall hold and stand possessed of the said trust assets, properties and funds (which expression shall include all investments in cash or kind or in any nature whatsoever into and for which, the said property or a part or parts thereof may from time to time be converted, varied or exchanged) and/ or such investments as may be held by the TRUSTEES from time to time in relation to these presents together with all income, profits, additions and accretions thereof, upon trust for the object set out herein with and subject to the provisions and conditions hereinafter contained in these presents.
OBJECTIVES OF THE TRUST
That the objectives of the Trust shall be wholly for the public and charitable purposes and incomes shall be applied for the same and accumulated in India wholly for public & charitable purposes without prejudice to generality of provisions aforesaid and the following shall be deemed to be the principal objectives of Wishwa Nath Charitable Trust are:
- Any cash, kind, properties, movable and immovable that may be acquired by purchase or otherwise or all manner of rights, title or interest in or over any property movable or immovable.
- All additions and accretions to the Trust properties and the income there from.
- All donations, gifts, legacies or grants, in cash or kind accepted by the Trustees upon Trust.
- The properties of the Trust shall be utilized for the objects set forth herein above and subject to the provisions and conditions herein mentioned.
NUMBER OF TRUSTEES, THEIR TERM AND POWER TO CO-OPT
- The Trust will be managed by a Board of Trustees consisting of not less than 2 trustees and not more than 11 trustees. The parties of the Second Part will be First Trustees and they shall automatically form the Board of Trustees.
- The Mr. HRIDESH SHARMA Shall be the managing Trustee and he will hold office for his life time. After the demise or relinquishment of office of the Managing Trustee, the remaining trustees shall elect one of the other Trustees as Managing Trustee.
- The term of office of First Trustees shall be for their respective lives. The Board of Trustees shall have the power to increase the total number of Trustees and fix their term as per provisions contained herein.
- Any Trustee, including the Managing Trustee may retire from the Trusteeship hereof by giving two calendar months notice in writing of his or her intention to do so, to the Board of Trustees and after the expiry of the period of notice, the Trustee giving the notice shall ipso facto cease to be a Trustee of these presents.
- Any vacancy caused by death of any one of the First Trustees, or any vacancy caused by the resignation of any of the Trustees, may be fille5d up by co-option by the Board of Trustees.