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Bijaynagar,East Midnapore, WB

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Bye Laws

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A)TERM OF OFFICE OF THE TRUSTEES:

These Trustees by nomination/election by the members of the Board shall hold office for such duration as may be decided   by the board of trustees;

B) PRESIDENT AND SECRETARY:

There shall be a president and a secretary (executive) for the administration of this trust amongst the trustees, elected by the board of Trustees, for such period, as may be specified in this regard;

C) MANAGING TRUSTEE:

The Board of Trustees shall nominate/select one from the Board of trustees who shall hold office for such period as may be decided by the Board of trustees to run the day-today administration of the Trust and all other functions and discharge such duties as entrusted to him in writing by the Board of Trustees.

D) TERMINATION OF THE TRUSTEES

A trustee shall cease to hold office, when deceased, on resignation, upon being adjudged insolvent, upon being found of guilty of an offence involving moral turpitude, upon being found to have acted against the interest of the Trust and at the end of the tenure of the trustee as decided by the board of trustees and upon majority decision of the board of trustees that the presence of such trustee is against the interest of the trust.

E) VACANCIES

Any vacancy among the Members of the Board of Trustees may be filled by voting of the trustees and they shall hold office for such duration as may be decided by the Board of Trustees.

F) MEETINGS AND PROCEEDINGS OF THE TRUSTEES

The Board of Trustees shall ordinarily hold meeting at least once  in 6 months or as often as may be necessary for the conducting the affairs of the Trust. One month’s notice shall ordinarily be given in writing/email for a meeting of the Board of Trustees. The Quorum for the Meeting of the Board of Trustees shall be 1/3rd or more of members of the Board (with a minimum of 3 members). Quorum is required for a meeting adjourning for want of Quorum. A minute book shall be kept by the Managing Trustee. Minutes of entry into the office of every new trustee and of all proceedings of the meeting of the board of trustee shall be entered in the minute book and shall be signed by the President and members present in the Meeting in person or digitally.

G) VOTING

Decisions of the Board of Trustees may be made at a meeting or by circulation of papers to them. Normal matters of routine nature may be circulated and decision obtained. The important matters are to be decided at the meeting. All matters arising for disposal shall be decided by a majority of the Board of Trustees present at the Meeting. The President of the Board of Trustees shall have a casting vote in the event of equality of votes, in addition to his own.

H) POWERS, FUNCTIONS AND DUTIES OF THE TRUSTEES

All property of the Trust Movable or Immovable or of any other kind, shall vest in the Trust. The trustees shall manage the whole property and affairs of the trust and shall have all powers, duties and functions necessary (proper and incidental) for the promotion and carrying out of the objectives of the trust.

In particular and without any prejudice to the generality of the foregoing the trustees shall for the purposes of this trust have the following powers, duties and functions

    1. To acquire by Gift, Grant, Purchase, Exchange, Lease, or otherwise, lands, buildings, or other immovable properties and any Movable Property.
    2. To construct, alter, demolish or improve buildings and maintain and equip them suitably.
    3. To accept gifts, donations, endowment and contributions for the Trust and shall be treated as the income of the Trust.
    4. To raise loans, to receive monies, securities or other movable property on behalf of the Trust.

To accept any trust, trust fund or endowment so long as the provisions of such Trust or endowment are in consonance with the objects of this Trust.

  1. To make donations calculated to promote the objectives of the Trust.
  2. To enter into contracts, or engagements on behalf of the Trust.
  3. To consider such proposals submitted by sub-committee appointed by this trust and allocate such funds, if necessary, as deemed necessary, for the implementation of the programs.

To make, sign and execute all such documents instruments, as may be necessary or proper for carrying on the management of the properties and affairs of the Trust.

To invest such monies and such funds of the trust as and when it may seem necessary or proper provided that such investments shall be made only upon immovable properties  or upon securities as the board of trustee may deem fit, under section 20 of the Indian Trust Act, 1882.

To sell, transfer or otherwise dispose of any immovable property of the trust provided all the trustees unanimously/ by majority decision resolve that it is in the interest of the trust to do so to sell or lease, mortgage or otherwise

  1. dispose of any movable and immovable properties of the Trust.
  2. To appoint a Committee/Committees of management for such terms and with such powers as may be specified from time to time, for carrying on the regular management of the affairs of the Trust.

To appoint employees on such terms and conditions as the Trustees may deem fit and proper for carrying out the work of the trust and exercise control all such employees including the power of suspension, dismissal and removal.

  1. To delegate to the Managing Trustee or any appointed committee such powers, duties and functions as are vested in the Trustees.
  2. To frame Bye-Laws and such other regulations as are required for achieving its objectives. Out of the income of the trust property the trustee shall be entitled to spend or incur the following expenses namely,
  1. a)All rates, taxes, cess, assessments, dues and duties if any payable to the government to any municipal or other public bodies in respect thereof or any part thereof. b) The premium for the insurance of the buildings or any other insurable property movable or immovable for the time being forming part of the trust property. c) The costs of ordinary repairs and for providing any amenities to the buildings for the time being forming part of the trust property. d) The cost of making such additions/alterations or improvements to or in the buildings forming part of the trust property, as the trustees shall think fit. e) Wages and salaries of all the employees employed by the trustees while carrying out  this trust. f) Cost and expenses of keeping the trust property in good condition. g) Cost and expenses for

installing and renovating the electrical and other installations in the building for the time being forming part of the trust property. h) The architect’s fee and legal charges and fee payable to other professionals engaged in the course of administration of the trust. i) All other costs, charges and expenses of and incidental to the management and administration of the trust property in accordance with the objects and purposes hereof or which may be incidental thereto. After deducting the costs, charges and expenses incurred by the trustee’s as aforesaid out of the total gross income received by them from the trust property the balance that is the net income will be utilized for the objects of the trust as decided by the board of trustees.

I)BOOKS OF ACCOUNTS

The Board of Trustees may open such Bank Account or Accounts in any of the Banks in the name of Iswar Chandra Charitable Trust. Such accounts shall be jointly operated by the President, Secretary and the Treasurer chosen from the members of the Board for a fixed duration of tenure.

The trust may open Bank Account/s in the name of the institution/organisation founded by the Trust. Such organizations will have their own management body and the board of trustees will have one ex-officio member in the said management. Bank Accounts of such organizations shall be operated by such person/persons as authorised by their management committee from time to time.

The properties and funds of the Trust shall be utilised only for the purpose of the Trust and for the due administration of its business affairs and properties, provided, however, that this shall not preclude payment of any remuneration or allowance or giving of residential accommodation or any perquisites to any trustee in connection with the work carried out by him/her for the purpose of the Trust.

The Trustees shall maintain a true and correct record of the receipts, payments incomes and expenses and transactions of the Trust. The Books of Account of the trust shall be audited by a qualified auditor or a Chartered Accountant every year i.e., commencing from 1 st April to the 31 st March of the following year.

J) NO OWNERSHIP RIGHT OF TRUSTEES

Trustees and settlor cannot claim any ownership right title, and interest of the Trust properties at any time.

K) APPLICABILITY OF TRUST ACT 1882

The provisions of the Indian Trust Act 1882 as amended from time to time shall apply to all matters.

L) APPLICABILITY OF INCOME TAX ACT 1961

The Trust will abide by the Income Tax Act 1961 and the rules framed there under from time to time.

M) AMENDMENTS

No amendments to the Trust Deed shall be made which may prove to be repugnant to the provisions of Section 2(15), 11, 12 and 13 and 80G of the Income Tax Act, 1961 as amended from time to time. The Board of Trustees may at any time make, amend, delete and rescind rules and by-laws of the Trust for the purpose of conducting its business, control, manage and administer the Trust and its objects, provided such amendments are not inconsistent or repugnant to any provisions of the Trust or any laws of the land. If at any time alterations in any of the provisions of the Trust are imperative, the Board of Trustees shall approve such alterations by a resolution passed in its meeting and thereafter, the modification will come into effect.

N) DISSOLUTION

In the event of dissolution or winding up of the Trust the assets of the trust remaining on the date of dissolution shall under no circumstances be distributed among the Trustees, but the same shall transferred to other Trust, Society, Association or Institution whose objects are similar to those of this Trust.

In the event of donation received for a particular purpose or object specified by the Donor(s) remains unutilized on the date of dissolution then the Donor(s) to be intimated in writing about the decision of the dissolution and the remainder of the donation. In such cases if the Donor(s) want refund of the remainder amount, the same to be refunded to the Donor(s)