Board of Trustees

This DEED OF TRUST executed on this the --- day of June 2004 by V. Seetharaman, son of K.Venkataraman (Late) aged about --- years, residing at No.17, Poornathilagam Street, Tambaram West, Chennai 45 hereinafter called the AUTHOR (which term shall mean and include the respective heirs, successors, executors and legal representatives).

Whereas the only son of the AUTHOR of the Trust namely S. Venkataraman has died on --- at the age of 21. After the demise of his only son, the AUTHOR has become upset and was not able to discharge his duties properly.

Whereas further, the son of the AUTHOR could not fulfill certain objects on account of his untimely death. Hence, the AUTHOR has, with a view to fulfill the aims and dreams of his only son desirous of instituting a Public Charitable Trust and for such purpose has paid a sum of Rs. 1001/- (Rupees One Thousand and One only) to the following persons, who have agreed to become TRUSTEES and the Board of Trustees shall comprise the following:

  1. V.Seetharaman

  1. S.Nagalakshmi

  1. V.K.Venkatnarayanan

  1. S.Krishnan, S.P.Srinivasan

  1. A.Menaka, E.Padmavathy

The TRUSTEES have agreed to become TRUSTEES and to apply the said sum and all gifts, contributions, subscriptions and donations for such purposes and objects of the Trust, subject to such powers and provisions contained in this deed.

The Board of Trustees shall have the following functions

  1. To enter into contracts and borrow money for the purpose of trust and management of its properties and assets.

  1. To receive grants, donations and subscriptions.

  1. To borrow if needed against the security of the assets of the Trust by way of bank overdrafts, loan or otherwise, as may be necessary, for the benefit of the Trust and for more effectively carrying out the objects of the Trust provided however, the Trustees unanimously agree on such borrowing and limited to the terms of their decision or agreement and to authorize two or more of the trustees to execute such documents, deeds, papers etc. as may be necessary in connection therewith.

  1. To arrange for and / or authorize the signing or execution of any agreement, contract, instrument, document or any other paper or writing required to be signed or executed on behalf of the Trustees by any two of the Trustees to be nominated in this behalf by the Board of Trustees and to make the same effective and binding as if the said agreement, contract, instrument or document or paper or writing were signed by all the Trustees.

  1. To appoint, to make provision for the appointment of a sub committee of Trustees and / or others to attend to or supervise or conduct specified jobs or functions or Trust matters in such manner and subject to such rules and regulations as the Trustees may prescribe.

  1. To authorize any one or more Trustees to hold any property or any fund or any investment of the Trust subject however to the terms of these presents in such manner and subject to such terms and conditions, rules and regulations as the Board of Trustees may from time to time think fit and proper.

  1. To spend any portion of the corpus or the income of the Trust Fund for purchasing any land and or constructing any building or buildings for and in the name of the Trust for the purpose of carrying out, promoting and / or executing any or all of the objects of the Trust.

  1. To make or modify schemes, rules and regulations for carrying out the objects of the Trust and the management of the affairs thereof.

  1. To set apart whole or part of the income for any of the objects of the Trust.

Term of Office of the Trustees and Meetings

a)   All the Trustees unless they voluntarily resign or otherwise decide, shall continue to be the trustees during the term of their natural lives.

b)   The number of trustees shall be not less than two and not more than five (Excluding Chairman & Founder at Cases)

c)   Any trustee may retire at any time without assigning any reason and without being responsible for any costs occasioned by such retirement.

d)   The surviving or continuing Trustees may not withstanding any vacancy in their board act as trustees provided however that if the number of Trustees shall fall below two of the minimum fixed by these presents, the trustees shall not, except for the purpose of filing any vacancy, act so long as the number is below the said minimum.

e)   Three trustees or 50% of the total number of the trustees whichever is more shall form the quorum for any meeting of the Trustees.

f)    The Trustees for the time being shall elect from amongst them one Chairman and he shall hold office for two years, unless he resigns or refuses to act as Chairman or otherwise ceases to be trustee.

g)   All proceedings and questions and matters arising at the meeting of the Trustees shall be decided by a majority of votes.

h)   In case of difference of opinion between the Trustees, the opinion of the majority shall prevail and if the Trustees are equally divided in any matter, the --- shall have a casting vote.

i)    A resolution in writing circulated amongst all the trustees and signed by a majority of the trustees present in India shall be as valid and effectual as if it had been passed at a meeting of the Trustees duly convened and held.

j)    Notice of the meeting of the Trustees and all communications may be sent to the Trustees at their addresses registered for the time being in the records of the trust.

k)   All meetings of the trust shall be held at such place and at such time as the founder of the trust shall decide form time to time.

l)    A trustee who is unable to be present at a meeting of the Trustees may send this views on the agenda in writing and such expression of opinion shall be taken to be his vote on the matter concerned.

m)  The minutes of the proceedings of every meeting of the trustees shall be entered in a book to be kept for that purposes and signed by the Chairman of such meeting or of the following meeting when they are read over and shall when so entered and signed be conclusive evidence of the business and other matters transacted at such meeting.

Powers to CO-OPT

The trustees shall have the power to co-opt additional trustees or to fill up any existing vacancy in the Board of Trustees. However, the total number of trustees shall not exceed five.