This Trust and Scheme set forth under Indenture shall come into force immediately after the execution and registration thereof. The Settlor and Trustees above named also hereby declare that they have consented to be the Trustee under this Trust and that in witnesses whereof the Settlor, Trustees above named as party hereto have affixed their signature hereunder.
All aims/objects/purposes of the trust herein stated above shall come into effect/force after necessary approval of the competent Govt. authority in the cases where affiliation / permission / license / sanction is required.
Trust Property:
At present the trust has no immovable and landed property save and except the trust value amounting Rs. 10,000/-(Rupees Ten Thousand) only. In its own name and no immovable and Landed property is being settled in favour of this trust by this document.
Function of trust :
a) The trust will never act which are illegal & unlawful in nature & also oppose to the public policy and contrary to the law of the country.
b) The Trust will never act like Micro financing and Money laundering nature and shall not obtain any donation or like that from abroad unless it is obtained FCRA /Foreign Contribution Regulation Act) registration.
APPLICABILITY OF TRUST ACT-1882-THE PROVISIONS OF THE INDIAN TRUST ACT 1882 SHALL APPLY TO ALL MATTERS NOT SPECIALLY MENTIONED IN THESE PRESENTS.
Lawful Purpose:
A trust may be created for any lawful purpose. The purpose of a trust is lawful unless it is (a) forbidden by law or (b) is of such a nature that, if permitted, it would defeat the provisions of any law, or(c) is fraudulent, or (d) involves or implies injury to the person or property of another, or (e) The court regards it as immoral or opposed to public policy. Every trust of which the purpose is unlawful is void. And where a trust is created for two purposes, of which one is lawful and the other unlawful and the two purposes cannot be separated, the whole trust is void.
c) Be it noted that this trust does not own any immovable property as on the date of execution of this document and no immovable property is being transferred in favour of the trust by virtue of this deed of trust. Further, this trust is debarred from performing any unlawful activity even if such activity has been accepted as an objective of the trust.
At present the trust has no immoveable and landed property in its own name and no immoveable and landed property is being settled in favour of this trust by this document and no immoveable property is involved in this trust deed.