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About the Paruchuri Global Foundation
 

TRUST DEED


THIS DEED OF TRUST executed at Bangalore on this 9th day of August 2007 by SRI PARUCHURI SURENDRA KUMAR S/O SRI. PARUCHURI PATTABHI RAO. Hereinafter called the FOUNDER of the Trust.

WHEREAS the FOUNDER of the trust out of the charitable consideration an in furtherance of promoting charitable objects desirous of creating a public charitable Trust to carry out objectives more fully set out in the following clauses.

AND WHERE AS the FOUNDER has appointed the following as Trustee (1) PARUCHURI SURENDRA KUMAR, hereinafter called a trustee.

AND WHEREAS the purpose of the said Trust, the founder has also set apart a sum of Rs.50,000/- (Rupees Fifty Thousand Only) and has divested himself of all interest in ownership over the said amount and hereby declares that the said property shall form part of the corpus of the trust and has delivered, transferred and assigned the same up to the use of the trustee upon trust and subject to the powers and provisions hereinafter set forth.

AND WHEREAS the said trustee has agreed to hold the said sum of Rs.50, 000/- (Rupees Fifty Thousand Only) in the Trust and utilize the fund including the accumulation there to and income there from for the purpose hereinafter mentioned under this Trust Deed.

Now this deed Trust witnesseth as follows:

  1. The name of the Trust shall be “PARUCHURI GLOBAL FOUNDATION” a public charitable Trust, and at such other places as the trustee herein may determine / decide from time to time and the said name shall never be changed.

  2. It is hereby declared that the FOUNDER doth hereby on the Trustee the sum of Rs.50, 000/- (Rupees Fifty Thousand Only) upon the Trust.

  3. it is hereby declared further that, the trustee shall stand possessed of the said amount known as corpus Fund and further additions to the fund and shall utilize the said amount and the income therefrom as well as all receipts, accumulations, donations, subscriptions or otherwise forming the Trust fund for the objects, interests and purposes hereinafter mentioned.

  4. subject to the provisions of sub-clause the Trustee shall hold the trust funds upon trust (so that as for as practicable that corpus shall always remains intact and only the income thereof shall be used, but with liberty to the trustee at their discretion to use the corpus from time to time either wholly or in part or parts) for the public charitable purpose including.
  1. Protection to animal
  2. Relief to the poor / deserving persons
  3. Advancement of education
  4. Medical relief
  5. Advancement of any other objects of general public utility not involving the carrying on of any activity for profit as the law may regard as public charitable purpose, as the Trustee may think fit and for one or more of such public charitable purposes, to the exclusion of other or others as Trustee may think fit provided that the income as well as the capital as well as the corpus shall be applied only towards the public charitable purposes as a foresaid and any accumulation of income shall also be made and deemed to be made for application to such charitable purpose as aforesaid PROVIDED FURTHER.

  1. That notwithstanding anything herein before or hereinafter contained, the income as also the corpus of the Trust Funds shall be applied and be applicable only to or for such public charitable purposes and objects and subject to such conditions or limitation if any as may from time to time be laid down in the Income Tax Act 1961, or any replacement or re-enactment thereof or modification thereof or under any other Government taxation for the time being in force in India.

  2. And further so that the Trust hereby established shall be one to which the provision of sec.80G of the Income Tax Act 1961, or any replacement or reenactment thereof  or the modification thereof for the time being in force shall apply so that any donation thereto be recognised eligible for exemption or relief from tax in regard to the donor.

  3. Without prejudice to the generality of the foregoing objects or purposes but subject as aforesaid IT IS DECLARED that Trustee shall in each year apply the income of the trust funds and may at the desecration at any time and from time to time apply also the Trust Funds or any part or parts of the Trust Funds in or towards in any one or more of the following objects or purposes (which according to the taxation laws be public charitable objects or purposes) to the exclusion of the other or others of them in such proportion and manner in all respects without distinction or irrespective of religion caste or creed as the Trustee may in their absolute direction think proper that into say.

  1. To provide and protect endangered species of animals and help by providing them food, medical aid and shelter.  Establishing and maintaining gaushalas.  Help by providing required aid to the Govt. Veterinary Hospitals.

  2. To establish, erect, equip and maintain or contribute towards establishments, erection, equipment and maintenance of colleges, schools, blander, libraries, free reading rooms, gymnasiums, swimming pools, hospitals, dispensaries, medical clinics including clinics for tuberculosis patients, nursing homes, maternity homes, orphanages, homes for widows, destitute or other unattached women, vikas grahas and charitable institution for the relief of poor, education, medical relief and advancement of other objects of general public utility not involving the carrying on of any activity of profit. Donate / aid education / medical aid who have the object of helping disable or poor and needy children.

  3. Education institution encouraging literature, art, medicine, science, agricultural crafts, history, technology, agricultural technology and technical education in all branches, for all ages and to run learning centers for orphan, poor and destitute children.

  4. Endowments to hospitals, infirmaries, maternity homes, orphanages, sanitariums, boarding houses, hostels and charitable dispensaries, libraries, reading rooms for students.  To conduct health awareness programs camps and blood donation camps.

  5. Awarding scholarships and fellowships in cash or in such other form on such terms and conditions as the trustees may think fit for the purpose of undertaking, prosecuting and encouraging studies provided that such scholarships and fellowships shall be awarded to such poor and / or deserving students and scholars studying in schools, colleges, universities and other educational institutions in India or abroad and who can’t afford and no means to prosecute the same.

  6. Endowments to different universities existing or which may hereafter come into existence for the purpose of encouraging education.

  7. Setting up or helping the endowments orphanages or poor houses for the benefits of orphans and poor persons and awarding of scholarships and cash payment to poor persons and widows desirous of receiving a primary, secondary and / or higher education and / or research in any branch or branches of science in its widest sense.

  8. To pay tuition fees, examination fees, boarding and lodging fees, to deserving students and to supply books free of cost to such students.

  9. To make monthly or other periodical or lump sum grants and contributions for the advancement of education of educational institutions.

  10. To render financial help to deserving students to enable them to purchase books and other equipments necessary for their education.

  11. To render financial help to needy and deserving persons to enable them to obtain medical treatment either in India or abroad in cash or in such other form and on such terms and conditions as trustees shall deem fit PROVIDE HOWEVER that in case of medical treatment to be obtained abroad, financial help should be rendered in India.

  12. To give financial help to needy widows and orphans for the purpose of their maintenance, medical treatment and education specifically in arts and crafts so as to enable them to earn their lively-hood.

  13. Establishing or rendering help to any institutions for the alleviation of human sufferings.

  14. To distribute blankets, rags, woolen clothings or cotton clothes to the needy.

  15. To start maintain and assist any relief measures in those parts, which are subject to natural calamities, like famine fire, flood, dearth of water, earthquakes etc., and to give donations and other assistance to the organisations, institutions, establishments or persons engaged in such relief work.

  16. Without distinction an irrespective of religion, caste and creed to give relief to poor, relief to the deserving, medical relief advancement and propagation of any object of general public charity, public institutions, maintenance and support of the schools, educational institutions, hospitals, relief of any distress caused by the elements of nature, give educational grants and assistance in advancement of leasing in all its branches, establishing research work in connection with medicine, literature technology, science industrial problems or for providing funds for instituting and / or starting professorships or lectureships or giving scholarships in any branch of medicine, family planning, science, technology or commerce, Train teachers / workers in ideal and practice of the true spirit of the education / learning.

  17. To undertake any programme of rural development including any programme for promoting the social and economic welfare of, or the uplift of the public in any rural area, and the funds of the association / institution raised for this purpose would be utilised for the above object.  PROVIDED FURTHER THAT, every contribution by trustee to any other trust, society or institution fund scheme object having as its sole object all or any of the aforesaid public charitable trusts and objects shall be treated and deemed to be a furtherance and achievement of the object for this trust.  PROVIDED FURTHER THAT  notwithstanding anything contained herein above the trustees shall have an absolute power by deed inter vivos or such other documents as may be necessary to delete any of the object or provision or any part of the aforesaid trust which are found contrary to the concepts of charitable purposes or objects or outside the Indian income Tax act 1961 or any re-enactment, replacement or modification thereof and other taxation law as may be applicable from time to time and enforced in India or the provisions of any other law relating to the public charities in India.

  18. To promote, establish, support, maintain or grant aid to institution for the promotion of science, literature, music drama, and fine art, for the preservation of historical monuments and for the research and other institution in India having similar objects for the benefits / of the public in general.  Financial aid / grant deserving students studying in above institutions.  Advance India culture / literature / science of this country for the nation’s benefit.

  19. To establish, maintain or grant aid for the establishment and / or maintenance of parks, gardens, gymnasiums, sport clubs, dharmashalas, and rest houses for use by public in general.

  20. To grant aid to or establish, maintain homes for the aged, orphanages or other establishments for the relief and help to the poor needy and destitute people, orphans, widows and aged persons.

  21. To establish and develop institution for the physically handicapped, and disabled or mentally retarded persons and to provide them education, food, clothing or other helps.

  22. To arrange group RETREATS to place of WILD NATURE so that people develop communion with NATURE and appreciate the value of it.

  23. To promote Indian sports and provide facilities in urban and rural areas.

  24. To promote education, Medical aid and shelter to the destitute children and to provide mid-day meals to the needy children, studying in Govt. schools and rural schools.

  25. To grant aid or render assistance to other public charitable trusts or institutions and individuals and promote rural industry.

  26. To function as a non-communal trust and a secular organisation.

  27. To establish centers for the employment generation and rehabilitating economically handicapped people and destitute by providing them suitable employment.

  28. To honor eminent personalities in field of science, education, literature and social activities.

  29. To provide forums to promote awareness on environment and better community living.

  30. To beautify our living and surrounding areas by planting trees, disposing garbage hygienically, developing gardens thereby living a healthy and aesthetic life.

  31. Establishing quality services of competent lawyers to the litigating public spreading legal literacy, promoting law reforms and providing legal assistance to all including the poor.

  32. To raise funds from individuals and organisation within the country and outside for effectively carrying out the above events, activity and services.

  33. To undertake propaganda training and education of the masses of its own accord or through agencies working for similar such causes.

  34. Help to the individuals in distress and also provide education / Medical aid / humanitarian organisation having charitable objects, without profit motive and enjoy registration under section 80G of Income Tax Act 1961.

  35. Set-up / construct art galleries / museums / auditoriums / encourage creative activity in all forms.

  36. Advance any other object of the general public utility/generally to do anything incidental/conducive to the above objects or any of them.

  1. The application of the Trust income, estate assets and funds shall be done without any distinction of nationality, Religion, Caste, Class or Sex.

  2. Constitution of the Board : For the time being the Board of Trustee shall have SRI PARUCHURI SURENDRA KUMAR as the sole trustee shall be empowered to co-opt additional Trustees to form committees as and when required.

  3. The trust property shall vest in the trustee and the trustee shall be entitled to administer the same under the terms of this deed.

  4. The corpus of the Trust as well as further accretion thereof is to be used for the purpose of the trust and the Trustee is also empowered to convert the existing form of trust property into any other form advantages of the Trust.

  5. The Trustee shall maintain regular accounts of receipts and payments/ expenditures of the Trust. The Trustee shall realise the interest and incidental for the realisation of the said interest and /or any other income apply the balance for one or more of the charitable objects set forth above. The Trustee is entitled to retain as much income from the Trust property as is necessary for the fulfilment of the objects of the Trust in current accounts or deposit amount and operate upon the same.

  6. The Trustee shall record the proceedings of meetings.

  7. The Trustee shall have powers to frame rules and by-laws not inconsistence with the terms of the investments, in order to carry out the purposes and objects of the Trust suitable, and to alter and amend such rules and bylaws as  and when required and also to constitute committees for any or the purposes of the Trust.

  8. The Trustee shall have powers to accept donations by way of cash, shares and securities, debentures, bonds, stocks and or/other property, moveable and immoveable property from the granter and /or any other person or persons to fulfil and further specified objects of trust.

  9. The income of the trust shall be applied for charitable purposes in INDIA only.

  10. This deed of trust shall not be REVOCABLE.

  11. The funds of the Trust shall be invested in the modes specified under the provisions of Sec13(1)(d)r/w Sec. 11(5)  of the income Tax Act 1961 as amended from time to time.

  12. The accounts of the Trust shall be maintained regularly. The accounts/amounts shall be audited by Chartered accountant every year and the accounts will be closed by 31st March every year.

  13. The Trustee shall be entitled to open and maintain in the name of the trust, bank account or accounts with any bank or banks, as he shall from time to time decide and all moneys so for as possible, shall be paid in such account or accounts and the trustee shall be entitled to operate such account or accounts.

  14. The trustees shall have the power to apportion the Trust funds and to compromises or compound all actions, suits and other proceedings and all difference and demands and refer any such differences or demands to arbitration, and to adjust and settle and approve all accounts related to the trust funds and to execute releases and all documents necessary in the premises and to do all other things relating there to respectively as fully as if they were absolutely entitled to the trust funds and without being answerable for the loss occasioned thereby.

  15. No amendments to this trust deed shall be made which may prove repugnant to the provisions of Sec.2(15),11 to 13 and 80 of the Income Tax Act 1961, as amended from time to time, the amendment shall be carried out without the prior approval of the commissioner of Income Tax.

  16. The trustees shall have the power to borrow or raise funds or secure payment of money and also lend money either with or without security at their discretion for the purpose of the trust.

  17. The trustee shall at all times be entitled to sell or otherwise dispose of any property belonging to the trust comprised in the trust funds for such consideration and upon such terms as trustees in their discretion may deem fit and proper for any of the purposes of the Trust.

  18. In the event of dissolution or winding up of the trust the assets remaining as on the date of dissolution shall under no circumstances be distributed among the trustees/Members of the Managing Committee/Members of Governing Body, but the same shall be transferred to another charitable trust whose objects are similar to those of this Trust and which enjoys recognition under section 80G of the Income Tax Act, 1961.

FOUNDER            

(PARUCHURI SURENDRA KUMAR)  


ADDENDUM TO THE TRUST DEED


This addendum to the trust Deed is made and executed at Bangalore on this 19th Day of September, 2007, by Sri. PARUCHURI SURENDRA KUMAR S/o. PARUCHURI PATTABHI RAO., hereinafter called the FOUNDER of the Trust and also TRUSTEE.

WHEREAS the FOUNDER of the Trust out of the charitable consideration and in furtherance of promoting charitable objects desirous of creating a public charitable trust to carry out certain charitable objectives has formed a trust under the name and style of PARUCHURI GLOBAL FOUNDATION and executed a trust deed dated: 09.08.2007 and registered as Doc. GAN-4-00236-2007-08,.

WHEREAS the Trustee of the trust now desirous of adding certain additions to charitable objects in the said Registered Trust Deed and decided to effect these changes which shall form part and parcel of the said Registered Trust Deed and that wherever certain clauses are added as detailed below, shall hereafter be read by adding these words in the Registered Trust Deed.

Therefore now this deed of Rectification witnesseth as follows:

  1. In the above registered Trust deed,

  1. After para 1 of page number 8 the following is inserted

    To subscribe own, print, publish, edit, possess, patent, distribute or otherwise issue bulletins, leaflets, circuluars, journals, periodicals, magazines, newsletters, books and pamplets and other literary works and undertakings and /or otherwise disseminate information for the purposes of the trust.”

All the other terms and convenants of the original registered Trust Deed remain unchanged and this Deed of Rectification shall form part and parcel of the registered Trust Deed.

IN WITNESS WHEREOF THE AUTHOR OF THESE AND TRUSTEES HERETO HAVE SET THERE RESPECTIVE HANDS THE DAY AND YEAR FIRST HEREIN ABOVE WRITTEN.

FOUNDER & TRUSTEE

(PARUCHURI SURENDRA KUMAR)