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RE: Shri Sathya Sai Institute of
Higher Learning
CERTIFIED COPY
Assistant
Commissioner,
Endowments
Department,
A N A N T A P U R.
Trust
Deed of Sri Sathya Sai
Institute of Higher Learning
Sri Sathya Sai Baba
P.N. Bhagwati
N.A.Palkhivala
S.Bhagwantam
Indulal
H.Shah
CERTIFIED COPY
Assistant Commissioner,
Endowments Department,
A N A N T A P U R.
Presented at Brindavan on 31.x.81 at 6 pm. by Bhagavan Sri Sathya Sai
Recovered fee:-
Registration: 60.00
Sri Sathya Sai Baba Copying Folios: 14.00
Copying endorsements:
01.00
Total : Rs. 75.00
Execution admitted at
Brindhavan on 31.10.81 at 6.00 pm by
:-
Sri Sathya Sai Baba
N.A.Palkhivala
P.N. Bhagwati
S.Bhagwantam
Indulal H. Shah
Note: The above executants are known
to the undersigned.
Sub Registrar
Hosakote.
THIS INDENTURE OF DEED made at PRASANTHI NILAYAM this 31st day of
October One Thousand Nine Hundred and Eightyone BETWEEN (1) SHRI SATHYA
SAI CENTRAL TRUST, a Public Charitable Trust established on 2nd September 1972
hereinafter called as the “SETTLORS” of the One Part AND (1) SRI SATHYA SAI BABA
(2) HON’BLE MR.JUSTICE P.N. BHAGWATI,(3) SHRI N.A.PALKHIVALA, (4)
DR.S.BHAGWANTAM and (5) SRI INDULAL H. SHAH hereinafter called the “TRUSTEES”
which expression shall unless repugnant to the subject or context shall
include the present Trustees, survivors and heirs, executors and and
administrators of such survivors, of the trustees of the Trust at the time
of these Presents of the other
part.
WHEREAS SETTLORS are
managing and conducting several educational institutions in different parts of
the country (including Shri Satya Sai Arts and Science College for women at
Anantpur and Shri Satya Sai Arts, Science and Commerce college at Prasanthi
Nilayam) with the object of bringing about emotional, ethical intellectual and
spiritual integration in individuals by imparting basic spiritual and material
education with a view to evolving a total man imbued with human
values;
AND WHEREAS the SETTLORS
are desirous of setting up Shri Satya Sai Institute of Higher Learning, Anantpur
(hereinafter referred to as the Institute) comprising Sri Satya Sai Arts and
Science College for women at Anantpur and Sri Satya Sai Arts, Science and
Commerce College at Prasanthi Nilayam;
AND WHEREAS the
Government of India has intimated to the SETTLORS that the Institute may be
declared as an “Institution deemed to be a University” under Section 3 of the
University Grants Commission At 1956 subject to the conditions set out in a
letter No.F.9-11/81-U.3 and dated 22nd September 1981 addressed by under
Secretary to the Government of India, Education Department to the Secretary to
the University Grants Commission;
AND WHEREAS the SETTLORS
in accordance with the intimation given by the Central Government have decided
to establish the Institute as a public charitable trust by these
Presents;
AND WHEREAS the SETTLORS
being absolutely seized and possessed of a sum of Rs.5001/- in cash set apart by
it for public charitable purposes hereinafter mentioned are desirous of settling
the said sum of Rs.5001/- as the initial fund for the Institute subject to the
powers and provisions hereinafter declared and contained concerning the
same;
AND WHEREAS THE SETTLORS
in anticipation of execution of these Presents prior to the date hereof have
handed to the Trustees the said sum of Rs.5001/- in cash;
AND WHEREAS THE TRUSTEES
have consented to act as the first trustees of the said Trust and the parties
hereto are desirous of recording the purposes, objects, uses and trusts as
also the terms and conditions of the said Trust;
NOW THEN THIS INDENTURE
WITNESSETH and it is hereby agreed and declared by and between the parties
hereto as follows;
In this, unless the
context otherwise requires the following expressions shall have the following
meanings;
(a) “The Trust” shall
mean the public charitable trust constituted by this Deed and
by any Deed or Deeds modifying the same as hereinafter
provided;
(b) “The Trustees” shall
mean and include the present Trustees and the survivors or
survivor of them, and their successors in office appointed pursuant to the
provisions hereof;
(c) “Trust Fund”
means
(i) The sum of Rs.5001/- (Rupees Five thousand one only) to be held by the
Trustees upon Trust and the accruing interest and income thereof and also any
additional moneys which may from time to time be
received by the Trustees upon the Trusts of this Deed.
(ii) All further sums of
money investments and other properties, including any moveable or immovable properties, which may hereafter be paid,
transferred or donated to or otherwise vested in the Trustees
of this
trust so as to be under their control for the purpose of running of
the
Institute for the objectives set out hereunder by any person or
persons
whomsoever or which may at any time hereafter in any other manner
accrue to the Trust as the Corpus of the Trust Funds;
(iii) All such accumulations of income as are hereinafter directed
to be held as additions to the corpus of the
Trust Fund;
(iv) All
moneys borrowed by the Trustees for the purpose of
or in the administration of the Trust;
(v) All moneys
investments and other properties from time to time representing such
sums of money, additions, accumulations and
accretions and any part or parts thereof;
(d) “The
Income of the Trust Fund” shall include the dividends interest, rents, profits and other income of the
Trust Fund.
2. The name of the Trust
shall be SRI SATHYA SAI INSTITUTE OF HIGHER LEARNING. The Principal Office shall
be situated at Prasanthi Nilayam in Andhra Pradesh and its subsidiary offices at
such other place or places as the Trustees may determine from time to
time.
3. The Trustees shall
stand possessed of the Trust Fund (1) UPON TRUST as to investments or other
properties other than money in their absolute discretion either to permit the
same to remain invested for so long as they shall think fit or to exchange the
same for investment hereby authorised or to sell or convert into money all or
any of such investments or properties and (ii) UPON TRUST as to money (including
the proceeds of sale of any such investments or properties) at the like
discretion to invest the same in their names or under their control in
accordance with the provisions hereinafter contained with power at the like
discretion from time to time to vary or transpose any such investments or other
properties for or into any other investments or other properties of any nature
hereby authorised.
4.(1)The Trustees
shall stand possessed of the Trust Fund Upon the Trusts 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 first to collect the income of the Trust Fund and
from and out of the same pay all proper costs, charges and expenses of and
incidental to the collection thereof and all outgoings payable in respect of the
Trust Fund and the costs, charges and expenses of and incidental to the
execution, management and administration of the Trust Fund;
(b) Subject
to the foregoing Trust and as hereinafter
provided 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 objects set out hereinafter.
Provided that (i) the Trust Fund and
the income thereof shall be applied only towards the public charitable purposes
as provided hereunder - (ii) any accumulations of income shall also be made and
deemed to be made for application to such public charitable purposes and (iii)
notwithstanding anything hereinbefore or, - hereinafter contained, the Trust
Fund and the income thereof shall be applied and be applicable only to or for
such public charitable purposes and so far as the same are purposes in respect of which exemption from
income tax, under the Income Tax Act, 1961, or any statutory modification or
re-enactment thereof for the time being in force is or will be
available.
(2) IT IS HERBY
EXPRESSLY DECLARED that in execution of the Trust declared in sub-clause 1(b) of
this Clause the Trustees shall apply the income of the Trust Fund and may at
their discretion apply the whole or any part or parts of the corpus of the Trust
Fund in or towards any one or more of the following purposes in such proportions
and manner in all respects of the Trustees may in their absolute discretion
think proper that is to say:
“(a) To own, manage and
develop the Institute comprising Sri Satya Sai Arts and Science College for
Women at Anantpur and Sri Satya Sai Arts, Sciences and Commerce College at
Prasanthi Nilayam with all their assets and liabilities for the advancement of
education and higher learning and research, open to all, irrespective of
caste, creed, race, relation, economic position and social status;
(b) to foster the composite
culture of India and establish such schools of study, departments or
institutions as may be required for the study and development of sciences,
languages, arts and culture of India;
(c) to take special
measures to facilitate students and teachers from all over India to join the
Institute and participate in its academic programmes;
(d) to bring about
intellectual, emotional ethical and spiritual integration in an individual with a
view to evolving the total man, imbibing human value and basic spiritual
and scientific education;
(e) to promote in the
students and teachers an awareness and understanding of the social needs of the
country;
(f) to promote a special
awareness on the part of the students and the academic community of the needs of
the rural population;
(g) to give a new orientation
to higher education, promote rights from the start a favourable atmosphere in all
the departments of the Institute for experimenting freely with the construction
of new curricula, new teaching methods and evaluation procedures;
(h) to establish such
departments or institutions as may be necessary for the study of the language,
literature and life of foreign countries with a view to inculcate in students a
world perspective and an international outlook;
(i) to train individuals to
accept a synthesis of scientific knowledge and spiritual awareness in their
daily lives, thus making them better suited to be members of the society of the
day which is becoming increasingly science oriented;
(j) to take appropriate
measures for promoting inter-disciplinary studies in the Institute;
(k) to make special provision
for integrated courses in humanities, sciences and technology in the
educational programmes of the Institute;
(l) to provide
facilities for students and teachers from other countries to participate in the
life and in the academic programmes of the Institute;
(m) to do all such other
things and acts as may be incidental or conducive to the attainment of the
foregoing objects and to the protection, preservation and advancement of
the Institute:
Provided that the
Institute may after complying with all the requirements of law and with the
prior approval of the Central Government establish or take over other campuses
in conformity with the objects of the
Trust;
Provided further that
the aforesaid objects shall not be altered or amended or substituted or added to
without the prior approval of the Central Government.
5. TRUSTEES
POWERS:
(i) POWER OF
ACCUMULATION:
The Trustees shall have
power to accumulate for a period as may be permissible in law the whole or any
part or parts of the income of the Trust Fund as the Trustees may in their
discretion think fit at compound interest by investing the same and the
resulting income thereof in any of the investments authorised by law including
in particular the provisions of section 11,13 and other provisions of the
Income-tax Act, 1961 or any replacement re-enactment or
modification thereof for the time being in force with power to vary such
investments and the investments for the time being representing the same shall
for all purposes be held upon the trust powers and provisions as are under this
Deed applicable to the Corpus of the trust fund as one fund therewith PROVIDED
that the Trustees shall be at liberty to apply the whole or any part or parts of
such accumulations at any time as if the same had been income of the Trust Fund
arising in the year in which the same shall be applied.
(ii) TO MAKE
INVESTMENTS:
All moneys forming part
of the Trust Fund and requiring investment shall be invested in or upon any of
the securities authorised by law for investment of trust funds or in or upon the
purchase of first legal mortgage of -immoveable properties and in or upon any
immoveable or moveable properties of whatsoever nature, stocks
bonds, funds, shares, capital Units or other Units, debenture, debenture
stock, mortgage or securities of any corporation companies or public
bodies, municipal, commercial or otherwise or in or upon current accounts or
deposits with any Bank or Banks or any person or persons, firm or company, and
transpose investment of for others of the same or a like nature. The
Trustees shall also be entitled to keep Trust and the investment of all or part
of the Trust Fund with any person or persons, companies (Whether public or
private) firm or firms or any other fund or institutions as they may, in their
absolute discretion, think fit subject nevertheless to the compliance of all
legal formalities necessary and under the laws for the time being in force
relating to public charities.
(iii) TO ACCEPT
DONATIONS:
The Trustees shall have
power in their discretion to accept upon such terms as they may think fit any
donation contributions from any private or public trust, institution, company,
firm or persons whomsoever whether such donations or contributions be of money,
shares and securities, debentures, bonds,stocks and/or any other property
moveable or immoveable Provided Always that the terms upon which such donations
or contributions shall be accepted shall not in any way be inconsistent
with or repugnant to the objects of these presents and shall only be for the
purposes of advancement of the objects of the Trust created under these presents
to be utilised only in furtherance of such objects PROVIDED ALWAYS AND IT IS
HEREBY agreed and declared that save as otherwise expressly provided by the
terms of the donations or contributions aforesaid the Trustees shall in their
absolute discretion be entitled to treat such donations or contributions or any
part thereof as part of the corpus of the Trust Funds or to utilise such
donations or contributions or any part thereof for the furtherance and
fulfilment of the object of the Trust.
(iv) TO DEAL WITH TRUST
PROPERTIES:
(a) to let any
immoveable properties forming part of the Trust Fund from month to month and from year to year or for any term of years or
in perpetuity and to sell, exchange and purchase immoveable properties
upon such terms and conditions as they may, in their discretion, think
fit from time to time;
(b) to keep the moveable
and immoveable properties from time to time
forming part of the Trust Fund in repair and duly insured and in
their discretion to make any additions, alterations and improvements to the
immoveable property or properties forming part of the Trust Fund
and to develop the same from time to time in such manner as they in their
discretion deem fit and proper from time to time;
(c) at all times to sell
or otherwise dispose of any property forming part of the Trust Fund which does
not consist of money for such conditions and upon such terms as the Trustees in
their discretion may deem fit and proper.
(v) TO
BORROW:
In their discretion to
borrow money upon such terms, conditions and securities as the Trustees shall in
their discretion deem fit and proper from time to time and to mortgage the whole
or any part of the Trust Funds as security for the repayment of the loans
borrowed for the purposes of the Trust.
(vi) TO OPEN AND OPERATE
BANK ACCOUNTS:
To open and maintain in
the name of the Trust or in the name or names of any one or more of them any
Bank Account or Accounts with any scheduled Bank or Banks as they shall from
time to time decide and all moneys shall be paid into such account or accounts
and the Trustee or Trustees shall be entitled to operate such account or
accounts in such manner as the Trustees may decide.
(vii) TO DEAL WITH TRUST
FUNDS:
To operate the Trust
Fund and to compromise or compound all actions, suits or other proceedings and
all differences and demands and refer any such differences or demands to
arbitration and to adjust, settle and approve all accounts relating to the Trust
Fund and to execute releases and all documents necessary in the premises and to
do all other things relating thereto respectively as fully as if they were
absolutely entitled to the Trust Fund and without being answerable for the loss
occasioned thereby.
(viii) TO MANAGE TRUST
AFFAIRS:
The affairs of the Trust
shall be managed by the Trustees who shall determine the purposes (being
Charitable purposes without the primary objects of the Trust as hereinbefore
declared) for which and the manner in which the Trust Fund shall be
applied and whose decision as to any such application of the Trust fund within
the terms of the said Trust shall be final and conclusive and not open to
question by any person or body.
(ix) TO MAKE RULES AND
REGULATIONS:
The Trustees shall be
entitled to make, amend or rescind rules and regulations for the management of
the Trust and all matters concerning the Trust and Trust Fund and their
management including the conduct of the meeting of the Trustees provided such
rules and provisions shall not be repugnant to the purposes of the Trust or be
inconsistent therewith.
(x) The Founder Trustee of the Shri Sathya Sai
Central Trust shall be the first Chancellor of the Institute and in case he
chooses at any time not to act as Chancellor or is for any reason unable to
act as such, the Trustees shall, with the approval of the Central Government,
appoint a suitable person to be the Chancellor and the term
of such Chancellor appointed by the
Trustees shall be five years and he will be eligible for reappointment for a
period of five years.
6. TRUSTEES: THEIR
NUMBER:TENURE: APPOINTMENT ETC.
(i) There
shall be not less than three and not more than eleven Trustees.
(ii)
FIRST TRUSTEES:
The First Trustees shall be:
(1) SHRI SATHYA SAI BABA
(2) HON’BLE
MR.JUSTICE P.N.BHAGWATI
(3) SHRI N.A.PALKHIVALA
(4) DR.S.BHAGAWANTAM
(5) SHRI INDULAL H. SHAH
The Trustees shall
have the power to co-opt one or more persons as Trust or Trustees
(iii) Shri Sathya Sai Baba shall be permanent Founder Trustee.
(iv) VACATION OF OFFICE:
The office of Trustee shall be vacated:
i. If he or she
dies or becomes of unsound mind;
ii. If he or she
files a petition for a receiving order or if a receiving order is made against
him or her or if he or she compounds with creditors;
iii. If
without the consent of the Trustees he or she remains absent from meetings of
the Trustees for three consecutive meetings and the Trustees resolve that he or
she ceases to be a Trustee;
iv. If he or she resigns the office of Trustee by
Notice in writing under his or her hand left at the Principal office of the
Trust.
7. TRUSTEE’s
OBLIGATIONS:
(a) All proper
expenses of and incidental to the administration and management of the Trust
shall be met and defrayed by the Trustees out of the Trust Fund (including the income thereof) before applying
the balance of the Trust Fund in accordance with the Trusts herein-before
declared.
(b) The Trustees
shall keep proper books of account in which all receipts and expenditure
relating to the Trust and Trust Fund shall be entered and such books shall be
kept at the office of the Trust. The Trustees shall in each succeeding year get
prepared all proper accounts, receipts and expenditure and such accounts shall
be audited by a Chartered Accountant appointed from time to time by the
Trustees.
8.Each of Trustees for
the time being of these presents shall be responsible only for such money, stocks, shares, funds, deposits,securities and properties as they shall
actually receive notwithstanding their signing any receipt for the sake of
conformity and shall be answerable or accountable only for their own acts,
receipts, neglects and defaults and not for those of others. The Trustees shall
not be responsible, answerable or accountable for any acts, receipts, neglects and
defaults of any bankers auctioneers or any other persons with whom or into whose
hands any trust money or securities may be deposited or come in accordance with
these presents and for the insufficiency or deficiency of any
stocks, funds, deposits or securities or properties nor for any defect or
insufficiency of title nor for any losses unless the same shall be caused due to their own wilful default.
9. The Trustees
for the time being of these presents shall be entitled to reimburse themselves
and pay and discharge out of the Trust Fund all expenses incurred in or about
the execution of the Trust and Powers of these presents.
10. In case of any
difference of opinion arising amongst the Trustees for the time being, concerning
the Trust, including the interpretation of these presents, the power of
appointment of the Trustees or any other matter or question relating to or
arising out of the Trust, the opinion of the majority present and voting shall
prevail and be binding and conclusive on all.
11. The Institute
shall be administered and managed in accordance with the provisions contained in
these presents and rules, bye-laws and regulations which may from time to time
be made by the various authorities of the Institute provided however, that such
rules, bye-laws and regulations shall not offend against the objects and purposes
of these presents or be inconsistent therewith. The first set of
rules, bye-laws and regulations are appended herewith and they shall be deemed to
be the rules, bye-laws and regulations governing the Institute and its various
authorities unless and until altered, amended, substituted, added to or repealed
by the appropriate authorities as provided in the rules.
12. This Trust shall be and remain irrevocable at all times.
IN WITNESS WHEREOF
the Settlor have hereunto set and subscribed hands and seals the day and year
first hereinabove written.
SIGNED, SEALED AND DELIVERED by the within named Settlor
SHRI SATHYA SAI CENTRAL TRUST
THROUGH:
in the presence of
SIGNED, SEALED AND DELIVERED
BY THE WITHIN NAMED TRUSTEES.
1. Sri Sathya Sai Baba
2. Hon’ble Mr.Justice P.N.Bhagwati
3. Sri N.A.Palhiwala
4. Dr.S.Bhagwantam
5. Shri Indulal H. Shah
In the presence of :
Sri.K.Chakravarthi
INSPECTOR
S/o.Sri R. Krishnamachari ENDOWMENTS DEPARTMENT
HINDUPUR
CERTIFIED COPY
Assistant Commissioner
Endowments Department
A N A N T A P U R
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