RE:SRI SATHYA SAI MEDICAL
THIS INDENTURE OF DEED made at Prashanti Nilayam this 9th day of
September (in the Christian Year One Thousand Nine Hundred and Ninety one
BETWEEN (1) SHRI SATHYA SAI CENTRAL TRUST. A Public Charitable Trust established
on 2.9.1972 hereinafter called as the “SETTLORS” of the ONE PART AND (1) SHRI
SATHYA SAI BABA (2) Col.S.P.JOGA RAO (3) Sri,INDULAL SHAH (4) Sri V.SRINIVASAN
hereinafter called the “TRUSTEES” (which expression shall unless repugnant to
the meaning and context thereof mean and include the Present Trustees and
the Trustees from time to time, their survivors heirs, executors,
administrators and assigns of such survivors, of the Trustees of the Trust at
the time of these Presents) of the OTHER PART.
WHEREAS THE SETTLORS are
a public charitable Trust conducting various activities in accordance with the
objects of the Trust including educational and medical activities of the
WHEREAS Sri Satya Sai Founder
Trustee of the Settlors has been propagating the eternal Truth by establishing
Schools, Colleges & University in Villages & Towns of India, for more
than a decade so that the lives of citizens be transformed by enabling their
thoughts, words & deeds to be consistent and noble.
WHEREAS the Settlors
believe that though true education provides our minds with a map for a peaceful
journey and our bodies carry us to our Divine Destination, it is Superior
medicine that maintains the body in proper repair so that the journey can be
accomplished. The Sri Satya Sai Institute of Higher Education exemplifies
these ideals. Education which emphasizes the development of
self-discipline and character alongside the acquisition of skills and knowledge
is offered free to all people by settlors.
WHEREAS Sri Satya Sai
Baba Founder Trustee of Settlors has now begun to demonstrate to mankind the
proper function of the Medical Sciences and Research.
AND WHEREAS THE SETTLORS
are therefore desirous of setting up SHRI SATYA SAI INSTITUTE OF HIGHER MEDICAL
SCIENCES (SUPER SPECIALITY HOSPITAL) at Prashantigram (A.P.) (hereinafter
referred to as the said Institute) for interalia specially offering services in
the department of cardiology and cardio thoracic surgery (ii) neurology (iii)
neuro surgery (iv) nephrology (v) urology, renal and urologic surgery and
oncology to all people free of cost regardless of caste, creed,race or
AND WHEREAS THE SETTLORS
for this purpose are absolutely seized and possessed of certain lands, which
were acquired by them for the purpose of the construction thereon and also
acquired several equipment etc for the above institute i.e for public charitable
purposes. AND WHEREAS the SETTLORS being absolutely seized and possessed of a
sum of Rs.1000/- in cash set apart by it for public charitable purposes
hereinafter mentioned are desirous of setting the said sum of Rs.1000/- as the
initial fund for the Trust 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.1000/- 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 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
(a) “The Trust” shall
mean and the public charitable trust constituted by this Deed and by any Deed/s
modifying the same as hereinafter provided.
(b) “The Trustees” shall
mean and include the present Trustees and the survivor/s of them, and their
successors in office appointed pursuant to the provisions hereof;
(c) “Trust Fund”
(i) The sum of Rs.1000/-
(Rupees One Thousand 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
the control for the purpose of running of the institute for the objectives set
out hereunder by any person/s whomsoever or which may at any time
hereafter in any other manner accrue to the Trust as the Corpus of the Trust.
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/s thereof.
Income of the Trust Fund” shall include the dividend interest, rents and
other income of the Trust Fund.
2. The name of the Trust
shall be SRI SATHYA SAI MEDICAL TRUST. The Principal Office shall be situated at
Prasanthi Nilayam in Andhra Pradesh and its subsidiary office at such
place/s 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 investment 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 Trust and with and
subject to the powers, provisions, agreement and declarations hereinafter
declared and contained of and concerning the same i.e to say:
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/s) 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
the public charitable purposes and so far as the same are purposes in respect of
which exemption from income tax under the Income Tax, 1961 or any
statutory modification or re-enactment thereof for the time being in force is or
(2) IT IS HEREBY 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/s 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
(a) To associate with
and conduct various programmes and research with the professions and experts
from time to time in the field of medicine.
(b) To establish such
departments or institutions as may be necessary for the study of medicine and
research in association with different countries with a view to promote world
perspective and an international outlook in the field of medicine.
(c) To promote the
undertaking of any programmes of rural development. For the
purpose of this clause, the expression “Programmes of Rural
Development” shall have the meaning assigned to it in explanation to what is
referred to in Income Tax Act, and as may be modified from time to time under
the said Act.
d) To promote a special
awareness on the part of the people of India of the
needs of the
health education in rural areas.
e) For the above objects
manage and develop the institute promoted by Settlors comprising of
the various departments i.e cardiology and
cardio thoracic surgery, (ii) neurology (iii) urology, renal and urologic
surgery and oncology
and other wings, institutions at Prashanthi Gram (A.P.) for the
advancement of research activities in medical sciences, and giving
medical treatment to one and all, irrespective of caste,
creed and colour free of cost to patients.
f) To take special measures
to facilitate patients from all over India to avail
of the hospital and its facilities and benefits of research for
conducting various programmes for bringing about village and rural
upliftment and thereby reaching the benefits of
the hospital and its research to the remotest
rural corners of India.
g) To associate with and conduct
programmes and research with the professions and experts from
different countries in the world.
h) To impart education and
training to various students in various branches of medicine and
promote research on the field of medicine and especially rural
i) To take appropriate
measures for promoting inter-disciplinary studies/ research in the
j) To take appropriate measures for
promoting studies, research and training in Nursing by
establishing a College of Nursing.
k) 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 Medical Sciences.
(i) POWER OF
The Trustees shall have
power to accumulate for a period as may be permissible in law the whole or
any part/s 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 and other provisions of the
Income-tax, 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 power 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/s 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
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 proprieties and in or upon any
immoveable or moveable properties of whatsoever nature, stocks
bonds, funds, capital units or other units, mortgage or securities or otherwise or
in or upon current accounts or deposits with any Bank/s investment of like
nature. The Trustees shall also be entitled to keep Trust and the
investment of all or part of the Trust Fund with or any other fund with any
charitable institution 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 and
under Income Tax Act.
(iii) TO ACCEPT
The Trustees shall have
power in their discretion to accept upon such terms as they may think fit any
donation contribution from any private or public trust, institution, company,
firm or persons whomsoever whether such donations or contributions be of
money, bonds, 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 purpose 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 fulfillment of the object of the
(iv) TO DEAL WITH
(a) To let any
immoveable properties forming part of the Trust Fund from the month and from
year to year or for any form of years or in perpetuity and to sell, exchange and
purchase immoveable properties upon such term 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 of the Trust Fund and to develop the same from time to
time in such manner as they may in their discretion deem fit and proper from
time to time.
(c) At all times to sell
or otherwise dispose off 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.
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 purpose of the Trust.
(vi) TO OPEN AND
OPERATE BANK ACCOUNTS:
To open and maintain in
the name of the Trust/Institute or in the name/s of any one or more of them any
Bank account/s with any scheduled Bank/s as they shall from time to time decide
and all moneys shall be paid into such account/s and the Trustee/s shall
be entitled to operate such bank account/s in such manner as the Trustees may
(vii) TO DEAL WITH TRUST
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
(viii) TO MANAGE
The affairs of the Trust
shall be managed by the Trustees who shall determine the purposes (being
Charitable purposes other than the primary objects of the Trust as hereinabove
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 shall be final and
conclusive and not open to any question by any person or body.
(ix) TO MAKE RULES
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.
The Trustees shall
appoint a Board of Management and an Executive Council to look after the
administration of the activities of the Trust and all the activities as per the
rules and regulations to be framed by the Trustees from time to time.
6. TRUSTEES: THEIR
NUMBER: TENURE: APPOINTMENT ETC.
shall be not less than 3 and not more than 7 Trustees.
FIRST TRUSTEES :
Trustees shall be:
i) SHRI SATYA SAI
ii) Col.S.P.JOGA RAO
iii) SRI INDULAL SHAH
iv) SRI V. SRINIVASAN
shall have the power to co-opt one or more persons as Trustee/s.
Sri Satya Sai Baba i.e
the Founder Trustee of the Sri Satya Sai Central Trust shall be the permanent
founder Trustee of this Trust and in case he chooses at any time not to act act
as such Founder Trustee or is for any reason unable to act as such, the Trustees
shall appoint a suitable person in His place.
4. VACATION OF
The office of Trustee
shall be vacated:
i. if he or she dies or becomes of unsound
ii. If he or she
files a petition for receiving order or if a receiving order is made
against him or her or if he or she compounds with creditors.
iii. If his/her
appointment is revoked by the Founder Trustee nd/or pursuant to a resolution of
the Board of Trustees for such removal,he or she ceases
to be a Trustee.
iv. If he or she resigns from the office of the Trustees
by Notice in writing under his his or her hand left at the Principal office of
(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 Trust herein-
Trustee 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 present 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 Trustee
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
Founder Trustee shall prevail and be binding and conclusive on all.
11. The activities
of the Trust shall be administered and managed by the Board of
Management and the Executive Committee in accordance with the provisions
contained in these presents and rules, bye laws and regulations which may from
time to time by the Trustees of the Trust 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 Trust and its various authorities
unless and until altered, amended, substituted, added to or repealed by the Board
of Trustees as provided in the rules.
12. (a) The Board
of Management shall consist of not more than 21 members
who shall be appointed by The Board of Trustees from time to time. The
Founder Trustee shall be the ex-officio member of the Board of Management.
(b) The Founder
Trustee shall appoint from amongst the members of the Board of
Management, a Chairman who shall preside at all the meetings of the Board of
(c) The tenure of the members of the
Board of Management shall be 2 years and the Trustees
may be at their absolute discretion re-appoint any such
d) The Executive Council shall consist of 5 members all to be
nominated by the Founder
Trustee and shall include a representative of the Sri Satya Sai Central Trust.
13. This Trust
shall be and remain irrevocable at all times.
IN WITNESS WHEREOF THE SETTLOR hereto have set and
subscribed their hands and seals the day and year first hereinabove
SIGNED SEALED AND
by the withinnamed
SRI SATYA SAI CENTRAL
TRUST ) Sri Sathya Sai Baba
through Founder Trustee
SRI SATYA SAI BABA
in the presence of ....
W7 A9 PrasanthiNilayam
(GAUTAM DEV SHOURIE)
S/o. Mr.SHIV LAL
WEST 5/A, PRASANTHI
PREPARED BY SRI INDULAL SHAH
A N A N T A P U