This DEED OF TRUST executed on the Twenty Seventh day of September Two
Thousand Two (27-09-2002)
BY: SRI SATYA SAI
(hereinafter referred to as “AUTHOR”) of the one
AND: (1) SRI SATYA
(hereinafter referred to also as “FOUNDER TRUSTEE”)
(2) Sri INDULAL SHAH
S/o. Sri Hiralal Shah, residing at “Sai Darshan” 9th Road, Khar,Mumbai-400 052.
(3) Sri V.SRINIVASAN
S/o.Sri M.R.Venkataraman,residing at “Srinidhi” 2, Satyanarayana Avenue,Chennai - 600 028.
(4) Sri S.S.NAGANAND
S/o.Sri S.G.Sundaraswamy, residing at “Kamala” 50, I “A” Cross,R.M.V.Extension, Mekhri Circle, Bangalore-560 080
(5) Sri K.CHAKRAVARTHI
S/o.Sri R.Krishnamachari,residing at Prashanthi Nilayam, Ananthpur District.
S/o.Sri V.Ganesan,residing at Prashanthi Nilayam, Ananthpur District.
(hereinafter referred to as “TRUSTEES”, which expression shall, whenever the context so requires or admits, mean
and include their successors in
office and other Trustees in office from time to
time) of the other part.
WITNESSES AS FOLLOWS:
the Author herein is desirous of establishing a Trust for the promotion of
several Public Charitable objects hereinafter mentioned.
II. CREATION OF
The founder has this day donated a
sum of Rs.1,000/- to this Trust which is hereby paid to the Trustees. The
Trustees hereby acknowledge receipt of the same.
The said sum as also all moneys, securities, properties - movable and immovable -
which the Trustees may hereafter receive or acquire for the Trust and all
additions and accretions thereto shall stand vested in the Trustees upon Trust
for the promotion of objects of this Trust, in accordance with these
III NAME OF THE
The name of the Trust shall be SRI SATHYA SAI FOUNDATION FOR UNIVERSAL
IV. OFFICE OF THE
principal office of the Trust shall be located at ‘Prashanthi Nilayam’, Prashanthi
Gram, Ananthapur District, Andhra Pradesh
State or at such other place or places as the Trustees may decide from time to
V. NATURE OF
This Trust shall be a Public Charitable Trust. All its properties,
funds and income thereof shall be applied solely for the purposes of this Trust.
VI. OBJECTS OF
The objects of the Trust are:
1) To spread, propagate and create awareness of the message, life and mission of Sri
Sathya Sai Baba through books, publications, journals and electronic
own, acquire and hold copyright and other intellectual property rights more
particularly relating to the name of Sri Sathya Sai Baba, his
discourses, messages, poems and publications and the Sarvadharma
3) To promote
education by establishing, running, helping or assisting in the establishment
and/or running of or otherwise accredit Schools, Colleges, training
institutes, Research Centres, etc., with emphasis on value education for moral
regeneration and to lay down from time to time policy and curricula for Satya
4) To grant permission to
person/persons, institution/institutions, whether educational, medical or
others for the use of intellectual rights aforementioned on such terms and
conditions deemed fir and proper.
5) To promote, preserve
and protect philosophy, Indian Culture and heritage and human values through
publication and distribution of books, journals, periodicals audio and video
cassettes, radios/television and multi-media with a view to educate and enlighten
the public. These activities shall be carried on without a motive of
6) To maintain, develop
and donate money, publications, audio and video recordings, for the establishment
maintenance and development of Library, Reading Room, Book Bank, Website and
other Internet related media.
7) To conduct and assist in
the holding of Lectures, Seminars, Conferences, Symposia, Workshops etc., and
establish awards and grant scholarships/freeships.
8) To conduct or sponsor
performance of music, dance, drama and other performances.
import, export, buy, sell musical instruments, books and magazines.
10) To provide low cost/free
facilities to students/weaker sections to read good literature and listen to
11) To collaborate with and/or
assist financially or otherwise support other institutions having objects
similar to any of the foregoing which enjoy recognition as on date under the
provisions of the Income Tax Act.
12) To establish Awards for
excellence in all spheres of activities leading to or for establishment of
13) The benefits of the Trust
shall be open to the entire humanity irrespective of nationality colour,
religion, caste or creed.
TRUSTEES, THEIR APPOINTMENT AND TENURE:
(a) There shall be Five Trustees besides the Founder Trustee.
The Founder Trustee shall hold office for life.
(b) Sri Satya Sai Central Trust, Prashanthi Nilayam, Ananthapur
District, Andhra Pradesh, a public Charitable Trust founded by the founder
Trustee as per Deed of Trust dated 2.9.1972 as amended vide registered Deed
dated 11.3.1994 shall have the power to fill up any vacancy in the office of
trustee by appointing all or any of the Trustees. The Trustees so
appointed shall hold office for such term or terms as may be stipulated.
All the Trustees except the Founder Trustee may be removed or replaced at any
time at the discretion of the Sri Satya Sai Central Trust.
(c) The Founder Trustee shall be the Chairman of the Board of Trustees
for life. Thereafter the members of the Board of Trustees shall elect one
among themselves as the Chairman for the meeting.
(d) Any Trustee who is declared as an undischarged insolvent or being of
unsound mind shall cease to be a Trustee.
(e) In the event of there being any difference of opinion among the
Trustees, the decision of the Founder Trustee shall be final.
(f) The Trustees shall always be guided and shall be bound by all
instructions and directions which may be issued from time to tome in regard to
the affairs of the Trust by the Founder Trustee and after him by Sri Satya Sai
VIII VACANCY OR
IRREGULARITY IN APPOINTMENT NOT TO INVALIDATE ACTION :
No vacancy on the Board of Trustees and no irregularity
in the appointment of any Trustee shall invalidate any action or decision taken
by the Board of Trustees.
The Trustees may appoint one or more Advisory Boards,
Executive Committees or any such bodies for efficient formulation and effective
implementation of specific projects or tasks.
X. POWERS OF THE
The Board of Trustees shall have full power and authority
to administer the Trust, its institutions, properties and funds and to do all
acts, deeds and things as are calculated to promote the objects for which this
Trust is established.
Without prejudice to the generality of the foregoing, the
Board of Trustees shall have power and authority for the purpose of the Trust:
(a) To acquire,hold and
dispose of properties - immovable and movable;
(b) To grant on lease, hire or
otherwise deal with the properties of the Trust;
(c) To borrow moneys with or
without security and to repay the same;
(d) To enter into contracts,
vary and rescind them;
(e) To open Bank Account/s and
provide for operation thereon as the Trustees may
deem fit, from time to time;
(f) To invest the funds
of the Trust not immediately required for the purpose of
the Trust in such manner as they deem fit subject however to the provisions
of Section 13(1) (d) read with Section 11 (5) and 13(5) of the Income
Tax Act, 1961.
(g) To receive gifts, grants, endowments and donations in cash or kind.
(h) To accept donations and
(i) To institute,
prosecute and defend all suits,l egal and other proceedings and
appoint agents, lawyers and Accountants;
(j) To appear and act before
Courts, Tribunals, Governmental, Muncipal, Tax and
other public or local authorities;
appoint, terminate, dismiss, suspend and otherwise deal with the employees of
the Trust and its institutions and projects;
(l) To apply the properties
and funds of the Trust for all or any of the objects for
which the Trust is established, as may be determined by the Board of
Trustees, from time to time;
(m) To enter into
arrangements, amalgamation with any other association,
institution, society or Trust
having similar objects of this Trust.
(n) To decide, from time to
time, the works to be undertaken in fulfilling the
objects of the Trust;
(o) To incur all necessary
expenses connected with the Trust, its institutions and
(p) To amend the provisions of
this Deed of Trust provided that no amendment will
be made which may be repugnant to the provisions of Section 2(15), 11 to
13 and 80-G of the Income Tax Act,1961. All amendments shall be
with the prior approval of the jurisdictional Income Tax Authority.
(q) To delegate any powers as
they can lawfully delegate to any other person or body
and execute necessary documents in that regard.
(r) To establish Trusts and
other institutions having objects similar to those of this
XI. PROCEEDINGS OF THE
1. The Trustees may meet
as often as may be necessary for the conduct of the business of the Trust. At
least 7 days notice shall be given for every meeting of the Board of Trustees,
provided however that the Chairman of the Trust shall have power to convene a
meeting at shorter notice for transacting any business considered by him to be
meeting of the Trust shall be presided over by the Chairman of the Trust and in
his absence or inability, by any other Trustee elected to preside.
3. The business of
the Trust may also be transacted by circulation of papers.
XII. ACCOUNTS, ACCOUNTING YEAR AND
of Trustees shall duly maintain true and correct accounts of all assets, disposals, receipts, expenses and liabilities of the Trust and a
correct record of the meetings and decisions of the Board of
The year of Account
of the Trust shall be from first of April to 31st of March succeeding. It
shall be open to the Trustees to change the year of account, if they find it
more convenient to do so. The first year’s account shall be closed at the
end of March 2003.
The Trust may open Bank accounts in the name of the Trust
in such Bank/s as the Trustees may decide and provide for its operation from
time to time.
XIV TRANSACTION OF BUSINESS
BY THE TRUSTEES:
Any Trustee authorised by the Board of Trustees may bring all actions in the
name of Trust and represent the Trust in all legal proceedings and also
represent the Trust and defend proceedings against the Trust.
The Board of Trustees may, from time to time, delegate to
one or more of their body or any other person or committee/s such of their
powers and duties as they deem fit subject nevertheless, to their retaining the
ultimate control and supervision.
XVI FRAMING OF RULES AND
The Board of Trustees may frame Rules and Bye-laws for the management of Trust,
its institutions, properties and proceedings of the Trustees, and amend or
rescind them as it deems fit, from time to time, provided however, that such
Rules & Bye-laws shall not be repugnant to the provisions of Section 2 (15)
and Sections 11 to 13 and Section 80 G of the income Tax Act, 1961 and shall not
be given effect to without the prior approval of the jurisdictional income Tax
The Trustees shall be
kept indemnified and harmless by the Trust against any action, claim, demand or
liability arising against them, for anything done by them in good faith, pursuant
to the POWER and AUTHORITY vested in them under these presents.
XVIII AMENDMENT OF THE TRUST
The Provisions of this Deed may be amended by the Board
It is hereby made
clear that the Board of Trustees shall have power to make, from time to time,
all such amendments as may be required to secure recognition, registration, exemptions and reliefs under the Income Tax Act or
other fiscal laws, or as may be found necessary for the smooth working of the
Trust. But, no amendment shall be made which is repugnant to Section
2(15), Sections 11 to 13 and Section 80 G of the Income Tax
Act,1961 and the same shall not be given effect to without the prior approval of
the jurisdictional Income Tax Authority, provided that the character of this
Trust as a Public Charitable Trust shall not be altered.
XIX DISSOLUTION OF THE
This Trust is
irrevocable. If for any reason the Trust is to be dissolved or to be wound
up, then the assets
remaining as on the date of dissolution shall under no circumstances be
distributed among the Trustees but the same shall be transferred to another
charitable Trust, Society, Association or Institution whose objects are similar
to those of this Trust and which enjoys recognition under Section 80G of the
Income Tax Act,1961.
XX. ACCEPTANCE OF THE
Trustees above named have accepted this Trust.
WHEREOF the parties above named have executed these presents this day at
Prashanthi Nilayam in the presence of the witnesses attesting
SRI SATYA SAI BABA;
(1)(SRI SATHYA SAI BABA)
(2) (INDULAL SHAH)
T R U S T E E S
(1) Gautam Dev
Shourie, West S/A,
18-19, Prasanthi Nilayam
Komacheruvn 515 133, Anantapur Dist
A N A N T A P U R.